Daniel Stanley Perotti Sells 10,500 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the transaction, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

PennyMac Financial Services Trading Up 1.4 %

Shares of PennyMac Financial Services stock opened at $113.80 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. The business has a fifty day simple moving average of $103.89 and a 200-day simple moving average of $95.68. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $119.13.

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

PennyMac Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 1.05%. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio is currently 41.67%.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 413 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of 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 purchasing an additional 109 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of 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 purchasing an additional 1,141 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of PennyMac Financial Services during the first quarter valued at $202,000. Finally, Virtu Financial LLC purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at $253,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.