PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 10,000 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00. Following the completion of the sale, the chief executive officer now directly owns 190,604 shares in the company, valued at $20,503,272.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
David Spector also recently made the following trade(s):
PennyMac Financial Services stock traded up $0.86 during midday trading on Tuesday, reaching $109.02. The company had a trading volume of 169,674 shares, compared to its average volume of 253,977. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The firm's fifty day simple moving average is $106.47 and its 200-day simple moving average is $97.41. PennyMac Financial Services, Inc. has a 12-month low of $62.15 and a 12-month high of $119.13. The company has a market capitalization of $5.55 billion, a P/E ratio of 37.85, a P/E/G ratio of 0.66 and a beta of 1.77.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. During the same quarter last year, the firm earned $1.11 EPS. The business's revenue was up 20.7% on a year-over-year basis. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.10%. This is a positive change from PennyMac Financial Services's previous quarterly dividend of $0.20. PennyMac Financial Services's dividend payout ratio (DPR) is 41.67%.
A number of hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in PennyMac Financial Services during the 4th quarter valued at about $967,000. Denali Advisors LLC grew its position in PennyMac Financial Services by 179.2% in the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust's stock worth $3,789,000 after acquiring an additional 26,700 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of PennyMac Financial Services by 91.3% during the 1st quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust's stock worth $1,753,000 after buying an additional 9,183 shares during the period. BNP Paribas Financial Markets boosted its holdings in PennyMac Financial Services by 56.1% in the 1st quarter. BNP Paribas Financial Markets now owns 13,917 shares of the real estate investment trust's stock valued at $1,268,000 after purchasing an additional 5,004 shares during the period. Finally, Edgestream Partners L.P. raised its stake in shares of PennyMac Financial Services by 349.5% in the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust's stock valued at $2,166,000 after buying an additional 18,485 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.
A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods cut PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price objective for the company. in a research note on Monday, July 22nd. StockNews.com cut PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Wednesday, July 3rd. Piper Sandler raised their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Barclays increased their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Wedbush lifted their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.50.
Get Our Latest Research Report on 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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