David Spector Sells 5,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $16,457,725.52. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

David Spector also recently made the following trade(s):

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $104.95, for a total transaction of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $96.39 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $4.94 billion, a P/E ratio of 30.60 and a beta of 1.78. The company’s 50-day simple moving average is $103.28 and its two-hundred day simple moving average is $103.05. PennyMac Financial Services, Inc. has a one year low of $81.93 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its position in shares of PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares during the period. KBC Group NV lifted its position in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the period. Quantbot Technologies LP lifted its position in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of research reports. Barclays boosted their target price 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. Keefe, Bruyette & Woods cut their price target on shares of 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 upped their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment 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. According to data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $122.50.

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.