PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 5,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.72, for a total transaction of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $104.95, for a total value of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $105.04, for a total value of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00.

PennyMac Financial Services Stock Performance

Shares of PFSI traded down $3.13 during mid-day trading on Friday, reaching $96.39. The company had a trading volume of 297,030 shares, compared to its average volume of 309,055. The stock has a market capitalization of $4.94 billion, a P/E ratio of 30.60 and a beta of 1.78. PennyMac Financial Services, Inc. has a 52-week low of $81.93 and a 52-week high of $119.13. The stock has a 50 day moving average of $103.34 and a two-hundred day moving average of $102.96. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share 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 firm had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period last year, the firm earned $1.77 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $37,000. Blue Trust Inc. increased its stake in PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 262 shares in the last quarter. KBC Group NV raised its holdings in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of PennyMac Financial Services during the third quarter worth approximately $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PFSI. Piper Sandler increased their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. 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 for the company in a report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays raised their target price 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. Finally, Wells Fargo & Company boosted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.50.

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.