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

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $93.30, for a total transaction of $272,902.50. Following the completion of the sale, the chief financial officer directly owned 213,550 shares of the company’s stock, valued at approximately $19,924,215. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennyMac Financial Services Trading Up 2.4%

NYSE:PFSI opened at $96.13 on Thursday. The firm has a 50-day simple moving average of $127.43 and a 200-day simple moving average of $122.87. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $160.36. The firm has a market cap of $5.00 billion, a P/E ratio of 10.34, a P/E/G ratio of 0.53 and a beta of 1.54. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million for the quarter, compared to analysts’ expectations of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.36%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 earnings per share. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Monday, February 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, February 13th. PennyMac Financial Services’s dividend payout ratio is presently 12.90%.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of analyst reports. Barclays decreased their target price on shares of PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a research report on Friday, January 30th. Weiss Ratings lowered PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. UBS Group raised their price target on PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating on the stock in a report on Monday, February 2nd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PennyMac Financial Services has a consensus rating of “Hold” and a consensus target price of $139.71.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of PFSI. 140 Summer Partners LP acquired a new stake in PennyMac Financial Services during the 3rd quarter valued at approximately $55,268,000. Norges Bank purchased a new position in shares of PennyMac Financial Services during the second quarter worth $39,976,000. Goldentree Asset Management LP acquired a new position in PennyMac Financial Services during the second quarter valued at $29,249,000. Two Sigma Investments LP boosted its holdings in PennyMac Financial Services by 1,148.7% in 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 purchasing an additional 286,019 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in PennyMac Financial Services by 2,379.5% in the third quarter. Holocene Advisors LP now owns 245,268 shares of the real estate investment trust’s stock valued at $30,384,000 after purchasing an additional 235,376 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.