PennyMac Financial Services (NYSE:PFSI) Insider Derek Stark Sells 1,903 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,903 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $91.50, for a total value of $174,124.50. Following the transaction, the insider owned 22,477 shares of the company’s stock, valued at $2,056,645.50. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $92.97 on Friday. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.52 and a beta of 1.54. The firm’s fifty day moving average is $122.80 and its 200 day moving average is $122.44. The company has a quick ratio of 0.36, a current ratio of 0.34 and a debt-to-equity ratio of 3.32. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data 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). The business had revenue of $538.01 million during the quarter, compared to analysts’ expectations of $639.81 million. PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.95 earnings per share. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. PennyMac Financial Services’s payout ratio is presently 12.90%.

Analysts Set New Price Targets

PFSI has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Weiss Ratings lowered shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Piper Sandler reduced their target price on shares of PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating for the company in a report on Monday, February 2nd. Finally, Barclays dropped their price target on shares of PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.71.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of PennyMac Financial Services during the fourth quarter worth approximately $379,000. Invesco Ltd. grew its stake in PennyMac Financial Services by 7.3% in the fourth quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock worth $206,881,000 after purchasing an additional 106,088 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in PennyMac Financial Services by 5.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,167 shares of the real estate investment trust’s stock worth $1,340,000 after purchasing an additional 504 shares during the period. XTX Topco Ltd bought a new stake in PennyMac Financial Services during the 4th quarter valued at $479,000. Finally, SummitTX Capital L.P. grew its position in shares of PennyMac Financial Services by 19.6% during the 4th quarter. SummitTX Capital L.P. now owns 2,795 shares of the real estate investment trust’s stock worth $368,000 after buying an additional 459 shares in the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

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.