PennyMac Financial Services, Inc. (NYSE:PFSI) Declares $0.30 Quarterly Dividend

by · The Cerbat Gem

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, NASDAQ reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.30 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, November 18th.

PennyMac Financial Services has raised its dividend by an average of 14.0% per year over the last three years. PennyMac Financial Services has a payout ratio of 9.1% meaning its dividend is sufficiently covered by earnings. Analysts expect PennyMac Financial Services to earn $13.54 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.9%.

PennyMac Financial Services Price Performance

PFSI stock traded down $3.64 during trading on Wednesday, reaching $100.00. 750,363 shares of the company were exchanged, compared to its average volume of 256,341. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The stock’s 50 day moving average price is $107.66 and its 200 day moving average price is $98.09. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $119.13. The company has a market cap of $5.12 billion, a P/E ratio of 28.75, a PEG ratio of 0.67 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. PennyMac Financial Services’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, analysts predict that PennyMac Financial Services will post 11.22 earnings per share for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the transaction, the director now directly owns 105,446 shares of the company’s stock, valued at $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the transaction, the director now owns 105,446 shares in the company, valued at $10,325,272.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock valued at $9,647,599 over the last ninety days. Corporate insiders own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the subject of a number of research analyst reports. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush restated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a report on Monday, July 22nd. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler lifted their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Hold” and an average price target of $114.33.

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PennyMac Financial Services Company Profile

(Get Free Report)

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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