PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 16,481 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 16,481 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.56, for a total value of $1,673,810.36. Following the completion of the transaction, the chief financial officer now owns 37,501 shares of the company’s stock, valued at $3,808,601.56. The trade was a 30.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 15th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00.
• 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 Down 0.6 %

Shares of PFSI traded down $0.65 during mid-day trading on Monday, hitting $101.01. The company’s stock had a trading volume of 339,502 shares, compared to its average volume of 258,461. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 32.07 and a beta of 1.78. The company’s 50-day moving average is $104.30 and its 200-day moving average is $102.16. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 52-week low of $81.93 and a 52-week high of $119.13.

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

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.19%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of PennyMac Financial Services by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock worth $17,240,000 after purchasing an additional 4,930 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PennyMac Financial Services by 10.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,554 shares of the real estate investment trust’s stock valued at $904,000 after buying an additional 935 shares in the last quarter. Picton Mahoney Asset Management increased its position in PennyMac Financial Services by 25.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 59,293 shares of the real estate investment trust’s stock valued at $5,609,000 after buying an additional 11,964 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in PennyMac Financial Services in the second quarter valued at about $255,000. Finally, Arizona State Retirement System boosted its holdings in PennyMac Financial Services by 2.9% in the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after acquiring an additional 336 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler upped their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Barclays increased their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.50.

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.