Doug Jones Sells 30,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $91.49, for a total value of $2,744,700.00. Following the completion of the sale, the director now owns 480,000 shares in the company, valued at $43,915,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 11th, Doug Jones sold 17,079 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.10, for a total transaction of $1,470,501.90.

PennyMac Financial Services Stock Up 1.3 %

PFSI stock opened at $91.29 on Friday. The company’s 50 day moving average is $89.88 and its 200 day moving average is $86.52. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services, Inc. has a 1-year low of $58.65 and a 1-year high of $94.80.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The firm had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, May 13th. PennyMac Financial Services’s payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Barclays lifted their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus price target of $97.75.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in PennyMac Financial Services by 40.0% in the fourth quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock valued at $5,333,000 after purchasing an additional 17,245 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in PennyMac Financial Services during the 4th quarter valued at $1,019,000. Qube Research & Technologies Ltd purchased a new stake in PennyMac Financial Services during the 3rd quarter valued at $3,370,000. Graham Capital Management L.P. bought a new stake in PennyMac Financial Services in the 3rd quarter worth $1,237,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of PennyMac Financial Services in the third quarter valued at about $3,657,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.