PennyMac Financial Services (NYSE:PFSI) Announces Quarterly Earnings Results, Misses Estimates By $0.21 EPS

PennyMac Financial Services (NYSE:PFSI) posted its quarterly earnings results on Thursday. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21), Zacks reports. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%.

PennyMac Financial Services Stock Performance

PFSI stock traded up $2.63 during mid-day trading on Thursday, hitting $114.73. 398,845 shares of the company were exchanged, compared to its average volume of 316,707. PennyMac Financial Services has a 1-year low of $83.03 and a 1-year high of $119.13. The business has a 50 day simple moving average of $104.45 and a 200-day simple moving average of $104.31. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.88 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $16,457,725.52. This represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Doug Jones sold 23,229 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the completion of the sale, the director now owns 23,892 shares of the company’s stock, valued at approximately $2,425,276.92. The trade was a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,844 shares of company stock worth $15,079,791. Company insiders own 16.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the subject of several recent analyst reports. Barclays increased their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler raised their target price 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, October 23rd. Finally, Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.