Doug Jones Sells 600 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 600 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 23,892 shares of the company’s stock, valued at $2,437,939.68. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 transaction of $2,357,975.79.

PennyMac Financial Services Trading Up 0.8 %

NYSE PFSI opened at $102.97 on Friday. The stock’s fifty day moving average price is $103.69 and its 200-day moving average price is $102.32. 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 cap of $5.28 billion, a P/E ratio of 32.69 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12 month low of $81.93 and a 12 month 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 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 last year, the firm posted $1.77 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is 38.10%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after buying an additional 51,777 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at about $614,000. FORA Capital LLC bought a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $616,000. HighTower Advisors LLC purchased a new position in shares of PennyMac Financial Services during the third quarter valued at approximately $702,000. Finally, Massachusetts Financial Services Co. MA bought a new position in PennyMac Financial Services during the third quarter valued at approximately $24,644,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PFSI shares. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Wells Fargo & Company boosted their target price 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. Finally, Piper Sandler upped their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One 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. According to MarketBeat.com, PennyMac Financial Services presently has a consensus 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.