David Spector Sells 5,000 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $105.73, for a total value of $528,650.00. Following the completion of the sale, the chief executive officer directly owned 130,604 shares of the company’s stock, valued at approximately $13,808,760.92. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

David Spector also recently made the following trade(s):

• On Monday, July 7th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $100.81, for a total value of $504,050.00.
• On Wednesday, June 11th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $98.29, for a total value of $491,450.00.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $105.3380 on Thursday. The stock has a market cap of $5.45 billion, a PE ratio of 14.61 and a beta of 1.50. The business has a fifty day simple moving average of $99.43 and a 200-day simple moving average of $98.92. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.03. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $3.01 by ($1.99). The business had revenue of $444.73 million during the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. PennyMac Financial Services’s dividend payout ratio (DPR) is 16.64%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PFSI shares. Wells Fargo & Company decreased their target price on shares of PennyMac Financial Services from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Piper Sandler decreased their target price on shares of PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Barclays decreased their target price on shares of PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their target price on shares of PennyMac Financial Services from $121.00 to $117.00 and set an “outperform” rating for the company in a research note on Thursday, July 24th. Finally, UBS Group decreased their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of PennyMac Financial Services by 12,101.0% during the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust’s stock valued at $1,173,000 after purchasing an additional 11,617 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $1,307,000. Lightrock Netherlands B.V. raised its holdings in shares of PennyMac Financial Services by 55.1% during the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock valued at $13,643,000 after purchasing an additional 48,312 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in shares of PennyMac Financial Services by 12,632.9% during the 1st quarter. Picton Mahoney Asset Management now owns 89,130 shares of the real estate investment trust’s stock valued at $8,922,000 after purchasing an additional 88,430 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of PennyMac Financial Services during the 1st quarter valued at $695,000. Institutional investors own 57.87% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.