PennyMac Financial Services, Inc. (NYSE:PFSI) Director Anne Mccallion Sells 23,829 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Anne Mccallion sold 23,829 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the transaction, the director now directly owns 1,854 shares in the company, valued at approximately $191,221.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Financial Services Stock Up 2.6 %

NYSE PFSI opened at $108.00 on Friday. PennyMac Financial Services, Inc. has a 12 month low of $62.15 and a 12 month high of $108.36. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The stock has a market cap of $5.50 billion, a PE ratio of 37.50, a P/E/G ratio of 0.63 and a beta of 1.72. The stock’s 50 day moving average is $97.71 and its 200 day moving average is $92.21.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. Research analysts predict that PennyMac Financial Services, Inc. will post 10.54 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Tuesday, August 13th. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio is 41.67%.

Analysts Set New Price Targets

PFSI has been the topic of several analyst reports. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research note on Monday, July 22nd. Piper Sandler lifted their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Finally, Wedbush increased their price objective on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.17.

Institutional Investors Weigh In On PennyMac Financial Services

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PennyMac Financial Services by 14.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,214 shares of the real estate investment trust’s stock valued at $814,000 after buying an additional 1,138 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of PennyMac Financial Services by 9.4% during the 4th quarter. Handelsbanken Fonder AB now owns 5,800 shares of the real estate investment trust’s stock valued at $513,000 after acquiring an additional 500 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of PennyMac Financial Services by 6.9% during the 4th quarter. New York State Common Retirement Fund now owns 15,823 shares of the real estate investment trust’s stock valued at $1,398,000 after acquiring an additional 1,015 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 205 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in PennyMac Financial Services by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock worth $35,060,000 after purchasing an additional 3,947 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

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.