PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Sells $1,050,210.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the completion of the transaction, the chief financial officer now directly owns 225,497 shares of the company’s stock, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Daniel Stanley Perotti also recently made the following trade(s):

• On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00.

PennyMac Financial Services Stock Up 0.3 %

PFSI stock traded up $0.31 during trading on Monday, reaching $102.48. 169,830 shares of the company traded hands, compared to its average volume of 258,891. The business has a 50 day simple moving average of $107.35 and a 200 day simple moving average of $99.84. PennyMac Financial Services, Inc. has a 12 month low of $75.25 and a 12 month high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 32.48 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the firm earned $1.77 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s payout ratio is 38.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PFSI shares. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a report on Monday, July 22nd. Piper Sandler raised their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $115.86.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in PennyMac Financial Services by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after acquiring an additional 8,345 shares during the period. FMR LLC boosted its position in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after buying an additional 815,389 shares during the last quarter. State Street Corp increased its holdings in PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after buying an additional 51,777 shares during the period. Geode Capital Management LLC raised its position in PennyMac Financial Services by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after buying an additional 19,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in PennyMac Financial Services by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after acquiring an additional 31,035 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.