Doug Jones Sells 7,882 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 7,882 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $103.16, for a total value of $813,107.12. Following the completion of the transaction, the director now owns 450,000 shares in the company, valued at $46,422,000. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Doug Jones also recently made the following trade(s):

• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The shares were sold at an average price of $102.04, for a total value of $61,224.00.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.51, for a total value of $2,357,975.79.

PennyMac Financial Services Price Performance

PFSI stock opened at $102.07 on Friday. The stock has a 50-day moving average price of $103.54 and a two-hundred day moving average price of $102.41. PennyMac Financial Services, Inc. has a 1 year low of $81.93 and a 1 year high of $119.13. The stock has a market cap of $5.23 billion, a PE ratio of 32.40 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the business posted $1.77 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of PennyMac Financial Services by 6.0% in 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 bought a new position in PennyMac Financial Services in the third quarter valued at approximately $614,000. HighTower Advisors LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $702,000. FORA Capital LLC bought a new stake in shares of PennyMac Financial Services during the 3rd quarter worth approximately $616,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $24,644,000. 57.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Barclays boosted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Piper Sandler raised their price target on 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 research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.50.

PennyMac Financial Services Company Profile

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.