PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Steven Richard Bailey Sells 14,130 Shares

by · The Cerbat Gem

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $111.79 on Friday. 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 has a 50-day simple moving average of $102.58 and a two-hundred day simple moving average of $94.52. The firm has a market capitalization of $5.72 billion, a PE ratio of 38.82, a P/E/G ratio of 0.75 and a beta of 1.77. PennyMac Financial Services, Inc. has a 52-week low of $62.15 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. Analysts forecast that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. PennyMac Financial Services’s dividend payout ratio is 41.67%.

Institutional Trading of PennyMac Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its stake in PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 413 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares in the last quarter. TFO Wealth Partners LLC grew its position in shares of PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares in the last quarter. SG Americas Securities LLC bought a new stake in PennyMac Financial Services during the 1st quarter valued at approximately $202,000. Finally, Cannon Global Investment Management LLC bought a new position in PennyMac Financial Services in the 2nd quarter worth approximately $255,000. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFSI has been the topic of a number of research reports. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research report on Monday, July 22nd. Piper Sandler upped their price target on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Wedbush increased their price objective on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. 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. Based on data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Hold” and a consensus target price of $107.17.

Read Our Latest Stock Analysis on PennyMac Financial Services

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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