PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Sells $273,705.95 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Abbie Tidmore sold 2,669 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $102.55, for a total transaction of $273,705.95. Following the completion of the sale, the executive now owns 4,878 shares in the company, valued at $500,238.90. This represents a 35.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $101.14 on Friday. The business has a 50-day moving average of $103.17 and a 200-day moving average of $104.64. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. PennyMac Financial Services’s payout ratio is currently 20.55%.

Analysts Set New Price Targets

Several research firms recently weighed in on PFSI. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Piper Sandler cut their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services during the fourth quarter worth approximately $39,000. Sterling Capital Management LLC grew its position in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services in the 4th quarter valued at $71,000. Parkside Financial Bank & Trust lifted its position in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 389 shares during the period. Finally, KBC Group NV boosted its stake in PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 209 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.