PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $907,200.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the completion of the transaction, the chief executive officer now directly owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Spector also recently made the following trade(s):

• On Monday, March 11th, David Spector sold 26,451 shares of PennyMac Financial Services stock. The shares were sold at an average price of $86.05, for a total value of $2,276,108.55.
• On Tuesday, February 20th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00.
• On Tuesday, January 16th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $84.43, for a total transaction of $1,266,450.00.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $87.93 on Friday. The business’s 50 day moving average price is $88.08 and its 200-day moving average price is $81.60. PennyMac Financial Services, Inc. has a fifty-two week low of $56.16 and a fifty-two week high of $94.78. The company has a market cap of $4.43 billion, a P/E ratio of 32.45, a P/E/G ratio of 0.60 and a beta of 1.67. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.75. The business had revenue of $361.94 million for the quarter, compared to analysts’ expectations of $413.35 million. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.19 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.91%. The ex-dividend date was Monday, February 12th. PennyMac Financial Services’s payout ratio is currently 29.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday. Wedbush increased their price target on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on PennyMac Financial Services in a research report on Wednesday, January 10th. They set a “buy” rating and a $115.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.13.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quilter Plc purchased a new position in PennyMac Financial Services during the 1st quarter valued at $248,250,000. USA Financial Formulas purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at $25,000. Hexagon Capital Partners LLC grew its holdings in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in PennyMac Financial Services in the 4th quarter worth about $36,000. Finally, West Tower Group LLC bought a new stake in PennyMac Financial Services during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.