Gregory Hendry Sells 3,530 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 3,530 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $131.64, for a total value of $464,689.20. Following the sale, the chief accounting officer directly owned 48,633 shares of the company’s stock, valued at approximately $6,402,048.12. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PennyMac Financial Services Trading Up 1.1%

NYSE:PFSI opened at $133.91 on Friday. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $137.53. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. The firm’s 50 day moving average is $127.98 and its 200 day moving average is $114.19. The stock has a market capitalization of $6.96 billion, a PE ratio of 14.43 and a beta of 1.58.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $2.98 by $0.39. The business had revenue of $632.90 million for the quarter, compared to the consensus estimate of $573.46 million. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The company’s revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 annualized dividend and a yield of 0.9%. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.93%.

Wall Street Analyst Weigh In

PFSI has been the topic of a number of analyst reports. BTIG Research reissued a “buy” rating and set a $135.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Jefferies Financial Group started coverage on PennyMac Financial Services in a research note on Friday. They set a “buy” rating and a $160.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on PennyMac Financial Services from $138.00 to $143.00 and gave the stock a “market perform” rating in a report on Thursday. Zacks Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Barclays upped their price target on PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.43.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PFSI. Hudson Bay Capital Management LP purchased a new stake in PennyMac Financial Services in the third quarter valued at approximately $5,593,000. Goldentree Asset Management LP increased its holdings in shares of PennyMac Financial Services by 0.8% in the 3rd quarter. Goldentree Asset Management LP now owns 296,441 shares of the real estate investment trust’s stock worth $36,649,000 after buying an additional 2,242 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $78,000. CIBC Bancorp USA Inc. bought a new stake in shares of PennyMac Financial Services during the 3rd quarter worth $386,000. Finally, CANADA LIFE ASSURANCE Co grew its position in PennyMac Financial Services by 1.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock worth $2,026,000 after acquiring an additional 163 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.