Daniel Stanley Perotti Sells 2,925 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $87.50, for a total value of $255,937.50. Following the completion of the transaction, the chief financial officer owned 210,625 shares in the company, valued at approximately $18,429,687.50. The trade was a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Stanley Perotti also recently made the following trade(s):

• On Tuesday, February 17th, Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock. The stock was sold at an average price of $93.30, for a total value of $272,902.50.

PennyMac Financial Services Stock Down 2.2%

Shares of NYSE:PFSI opened at $84.56 on Wednesday. The business’s 50 day simple moving average is $88.66 and its two-hundred day simple moving average is $110.99. The firm has a market cap of $4.39 billion, a P/E ratio of 8.99, a PEG ratio of 0.56 and a beta of 1.49. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33. PennyMac Financial Services, Inc. has a 52-week low of $82.65 and a 52-week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The firm had revenue of $544.98 million during the quarter, compared to the consensus estimate of $546.17 million. During the same quarter in the previous year, the company posted $1.42 EPS. The firm’s revenue was up 26.5% on a year-over-year basis. As a group, research analysts forecast that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, May 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PFSI shares. Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings lowered PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Wells Fargo & Company dropped their target price on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Zacks Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Finally, Piper Sandler dropped their target price on PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PennyMac Financial Services presently has a consensus rating of “Hold” and a consensus target price of $122.75.

Institutional Trading of PennyMac Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of PFSI. 140 Summer Partners LP purchased a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $55,268,000. Norges Bank purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $44,287,000. Two Sigma Investments LP increased its position in shares of PennyMac Financial Services by 1,148.7% during the third quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock valued at $38,517,000 after acquiring an additional 286,019 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of PennyMac Financial Services by 1,882.2% during the first quarter. Janus Henderson Group PLC now owns 267,868 shares of the real estate investment trust’s stock valued at $23,423,000 after acquiring an additional 254,354 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of PennyMac Financial Services by 173.9% during the first quarter. Bank of America Corp DE now owns 379,429 shares of the real estate investment trust’s stock valued at $33,162,000 after acquiring an additional 240,902 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

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.