By otakuyassine3@gmail.com 
PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) Director Doug Jones sold 600 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $102.04, for a total transaction of $61,224.00. Following the sale, the director now directly owns 23,892 shares of the company’s stock, valued at approximately $2,437,939.68. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Doug Jones also recently made the following trade(s):
- On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79.
PennyMac Financial Services Stock Performance
Shares of NYSE:PFSI traded up $0.79 during midday trading on Thursday, reaching $102.97. 257,954 shares of the company’s stock traded hands, compared to its average volume of 258,156. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 32.69 and a beta of 1.78. The stock has a 50 day moving average of $103.84 and a 200 day moving average of $102.32. PennyMac Financial Services, Inc. has a one year low of $81.93 and a one year high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38.
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the prior year, the company posted $1.77 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.
PennyMac Financial Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on PFSI shares. 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. 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. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their price objective 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. Finally, Wells Fargo & Company raised their price target 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.50.
Get Our Latest Research Report on PFSI
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PFSI. State Street Corp boosted its position in PennyMac Financial Services by 6.0% during the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after acquiring an additional 51,777 shares in the last quarter. XTX Topco Ltd purchased a new position in PennyMac Financial Services during the 3rd quarter worth approximately $614,000. FORA Capital LLC acquired a new position in PennyMac Financial Services during the third quarter valued at $616,000. HighTower Advisors LLC purchased a new stake in shares of PennyMac Financial Services in the third quarter worth about $702,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth approximately $24,644,000. 57.87% of the stock is currently owned by institutional investors.
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.
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