Derek Stark Sells 2,110 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 2,110 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $103.07, for a total transaction of $217,477.70. Following the completion of the sale, the insider now directly owns 26,209 shares of the company’s stock, valued at $2,701,361.63. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Derek Stark also recently made the following trade(s):

• On Tuesday, March 4th, Derek Stark sold 588 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.52, for a total transaction of $59,693.76.

PennyMac Financial Services Trading Up 1.1 %

NYSE:PFSI opened at $102.88 on Thursday. The stock’s 50 day moving average price is $103.64 and its 200 day moving average price is $105.15. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a market capitalization of $5.29 billion, a P/E ratio of 17.62, a P/E/G ratio of 0.19 and a beta of 1.78. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. On average, research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business 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 annualized dividend and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the third quarter valued at approximately $37,000. TD Waterhouse Canada Inc. acquired a new position in PennyMac Financial Services during the fourth quarter valued at approximately $39,000. Sterling Capital Management LLC grew its holdings in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services during the fourth quarter valued at approximately $71,000. Finally, Parkside Financial Bank & Trust grew its holdings in PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PFSI. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.17.

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.