Steven Richard Bailey Sells 14,130 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $113.72 on Friday. PennyMac Financial Services, Inc. has a one year low of $62.15 and a one year high of $119.13. The business has a fifty day moving average price of $102.27 and a 200-day moving average price of $94.38. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $5.82 billion, a P/E ratio of 39.49, a PEG ratio of 0.72 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. During the same period in the previous year, the business earned $1.11 earnings per share. PennyMac Financial Services’s revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were issued a $0.30 dividend. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PFSI. Piper Sandler increased their price target 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. Wedbush raised their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a research report on Monday, July 22nd. Finally, StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.17.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently made changes to their positions in PFSI. Blue Trust Inc. boosted its stake in PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 413 shares during the period. Hexagon Capital Partners LLC boosted its stake in PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares during the period. TFO Wealth Partners LLC boosted its stake in PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the period. SG Americas Securities LLC bought a new stake in PennyMac Financial Services during the first quarter valued at $202,000. Finally, Virtu Financial LLC bought a new stake in PennyMac Financial Services during the fourth quarter valued at $253,000. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Company Profile

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.