PennyMac Financial Services (NYSE:PFSI) Announces Earnings Results, Misses Estimates By $1.62 EPS

PennyMac Financial Services (NYSE:PFSI) issued its earnings results on Tuesday. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62), Briefing.com reports. The business had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.28%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 EPS.

PennyMac Financial Services Price Performance

PFSI traded up $1.00 during trading on Thursday, reaching $101.02. The stock had a trading volume of 297,663 shares, compared to its average volume of 253,768. The business has a 50-day moving average of $107.67 and a 200-day moving average of $98.10. PennyMac Financial Services has a one year low of $62.15 and a one year high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $5.17 billion, a PE ratio of 32.07, a PEG ratio of 0.63 and a beta of 1.77.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be given a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.19%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now directly owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne Mccallion sold 23,829 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the transaction, the director now directly owns 1,854 shares of the company’s stock, valued at $191,221.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,855 shares of company stock valued at $9,647,599 over the last 90 days. Insiders own 16.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday. Wells Fargo & Company increased their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler boosted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays upped their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

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.