PennyMac Financial Services, Inc. (PFSI) to Issue Quarterly Dividend of $0.30 on February 26th

PennyMac Financial Services, Inc. (NYSE:PFSI) announced a quarterly dividend on Wednesday, January 28th. Shareholders of record on Monday, February 16th will be paid a dividend of 0.30 per share by the real estate investment trust on Thursday, February 26th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, February 13th.

PennyMac Financial Services has increased its dividend payment by an average of 0.5%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennyMac Financial Services has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PennyMac Financial Services to earn $16.15 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.4%.

PennyMac Financial Services Stock Performance

NYSE:PFSI traded down $50.52 during mid-day trading on Friday, hitting $99.18. The stock had a trading volume of 2,627,555 shares, compared to its average volume of 578,333. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. The company has a 50 day simple moving average of $137.97 and a 200-day simple moving average of $123.00. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 0.67 and a beta of 1.57. PennyMac Financial Services has a 52 week low of $85.74 and a 52 week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.The company had revenue of $538.01 million for the quarter, compared to the consensus estimate of $639.81 million. During the same quarter last year, the firm posted $1.95 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts expect that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Gregory L. Hendry sold 3,530 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $131.64, for a total value of $464,689.20. Following the transaction, the chief accounting officer directly owned 48,633 shares in the company, valued at approximately $6,402,048.12. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Doug Jones sold 23,453 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $127.56, for a total transaction of $2,991,664.68. Following the transaction, the director directly owned 19,056 shares of the company’s stock, valued at approximately $2,430,783.36. This represents a 55.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 80,076 shares of company stock worth $10,512,190. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its stake in PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 105 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PennyMac Financial Services by 0.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock valued at $1,598,000 after buying an additional 111 shares in the last quarter. GAMMA Investing LLC grew its position in PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 142 shares during the period. Sei Investments Co. raised its stake in PennyMac Financial Services by 0.7% during the third quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after acquiring an additional 146 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of PennyMac Financial Services by 1.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock valued at $2,026,000 after purchasing an additional 163 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.