PennyMac Financial Services Sees Unusually Large Options Volume (NYSE:PFSI)

PennyMac Financial Services, Inc. (NYSE:PFSIGet Rating) was the target of unusually large options trading on Tuesday. Stock traders acquired 10,725 put options on the stock. This represents an increase of 678% compared to the average daily volume of 1,379 put options.

Insider Transactions at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $54.87, for a total transaction of $713,310.00. Following the completion of the sale, the director now directly owns 174,891 shares in the company, valued at $9,596,269.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Derek Stark sold 5,705 shares of PennyMac Financial Services stock in a transaction on Monday, August 8th. The stock was sold at an average price of $56.62, for a total transaction of $323,017.10. Following the completion of the sale, the insider now directly owns 54,320 shares in the company, valued at $3,075,598.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $54.87, for a total value of $713,310.00. Following the sale, the director now owns 174,891 shares of the company’s stock, valued at $9,596,269.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,941 shares of company stock worth $4,848,629. 18.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC purchased a new stake in shares of PennyMac Financial Services during the second quarter worth about $25,000. Point72 Hong Kong Ltd purchased a new stake in PennyMac Financial Services in the fourth quarter valued at approximately $58,000. Ensign Peak Advisors Inc purchased a new stake in PennyMac Financial Services in the fourth quarter valued at approximately $120,000. Captrust Financial Advisors boosted its position in PennyMac Financial Services by 75.9% in the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,247 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in PennyMac Financial Services by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 61.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFSI. Piper Sandler decreased their price objective on PennyMac Financial Services from $82.00 to $79.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. JMP Securities decreased their price objective on PennyMac Financial Services from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Finally, Barclays decreased their price objective on PennyMac Financial Services from $90.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Two analysts have rated the stock with a hold rating and four 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 price target of $68.60.

PennyMac Financial Services Price Performance

PFSI opened at $51.79 on Wednesday. The business’s 50-day moving average is $53.96 and its two-hundred day moving average is $50.63. PennyMac Financial Services has a 1 year low of $38.53 and a 1 year high of $71.52. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $2.87 billion, a PE ratio of 4.39 and a beta of 1.29.

PennyMac Financial Services (NYSE:PFSIGet Rating) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $1.06. PennyMac Financial Services had a return on equity of 23.04% and a net margin of 27.37%. The company had revenue of $511.52 million for the quarter, compared to analyst estimates of $475.70 million. Research analysts anticipate that PennyMac Financial Services will post 7.62 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. PennyMac Financial Services’s payout ratio is 6.77%.

PennyMac Financial Services Company Profile

(Get Rating)

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

Recommended Stories

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.