PennyMac Financial Services, Inc. (NYSE:PFSI) Announces Quarterly Dividend of $0.30

PennyMac Financial Services, Inc. (NYSE:PFSI) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Thursday, February 13th will be given a dividend of 0.30 per share by the real estate investment trust on Sunday, February 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, February 13th.

PennyMac Financial Services has increased its dividend payment by an average of 7.7% per year over the last three years. PennyMac Financial Services has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PennyMac Financial Services to earn $14.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.4%.

PennyMac Financial Services Stock Down 8.6 %

PFSI stock opened at $104.93 on Friday. PennyMac Financial Services has a twelve month low of $83.03 and a twelve month high of $119.13. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $5.38 billion, a P/E ratio of 33.31, a PEG ratio of 0.21 and a beta of 1.78. The firm has a 50 day simple moving average of $104.65 and a 200-day simple moving average of $104.42.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. On average, equities research analysts predict that PennyMac Financial Services will post 11.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several research analyst reports. Piper Sandler reduced their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, Barclays raised 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 research analyst has rated the stock with a sell rating, one has given 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 an average price target of $122.17.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $16,457,725.52. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Doug Jones sold 7,882 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the completion of the sale, the director now owns 450,000 shares in the company, valued at $46,422,000. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,844 shares of company stock worth $15,079,791. 16.60% of the stock is owned by insiders.

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.