David Spector Sells 10,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSIGet Free Report) CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the transaction, the chief executive officer now owns 230,604 shares of the company’s stock, valued at $20,883,498.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, May 15th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $93.16, for a total value of $931,600.00.
  • On Tuesday, April 9th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $90.72, for a total value of $907,200.00.
  • On Monday, March 11th, David Spector sold 26,451 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55.

PennyMac Financial Services Stock Down 1.8 %

NYSE PFSI opened at $90.60 on Friday. PennyMac Financial Services, Inc. has a 1 year low of $62.15 and a 1 year high of $94.80. The stock has a market capitalization of $4.61 billion, a PE ratio of 31.46, a PEG ratio of 0.59 and a beta of 1.70. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. The business’s 50-day moving average is $90.10 and its 200 day moving average is $87.48.

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

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.20 per share. 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 currently 27.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its position in shares of PennyMac Financial Services by 40.6% during the fourth quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 23,696 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in PennyMac Financial Services during the 4th quarter valued at approximately $1,019,000. Campbell & CO Investment Adviser LLC grew its holdings in shares of PennyMac Financial Services by 165.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock worth $2,187,000 after acquiring an additional 15,412 shares during the period. Federated Hermes Inc. raised its position in shares of PennyMac Financial Services by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock worth $5,333,000 after acquiring an additional 17,245 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $3,370,000. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PFSI. Barclays lifted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.75.

Read Our Latest Analysis on PFSI

About PennyMac Financial Services

(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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