Anne Mccallion Sells 23,829 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Anne Mccallion sold 23,829 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares in the company, valued at $191,221.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI traded down $0.26 during mid-day trading on Wednesday, hitting $102.88. 172,653 shares of the stock traded hands, compared to its average volume of 245,900. PennyMac Financial Services, Inc. has a twelve month low of $62.15 and a twelve month high of $105.94. The firm has a 50 day simple moving average of $96.93 and a two-hundred day simple moving average of $91.93. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $5.24 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. During the same quarter last year, the company posted $1.11 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.54 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, August 13th. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 41.67%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a report on Monday, July 22nd. Wedbush lifted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler upped their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Hold” and a consensus price target of $107.17.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in PFSI. Creative Planning increased its position in PennyMac Financial Services by 59.9% in the 2nd quarter. Creative Planning now owns 4,977 shares of the real estate investment trust’s stock valued at $471,000 after buying an additional 1,865 shares in the last quarter. Algert Global LLC bought a new position in PennyMac Financial Services in the 2nd quarter valued at $408,000. The Manufacturers Life Insurance Company raised its position in PennyMac Financial Services by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 18,449 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 1,166 shares during the period. Maverick Capital Ltd. raised its holdings in shares of PennyMac Financial Services by 263.8% in the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 9,357 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in PennyMac Financial Services in the 2nd quarter worth about $639,000. Institutional investors own 57.87% of the company’s stock.

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.