PennyMac Financial Services (NYSE:PFSI) Issues Quarterly Earnings Results

PennyMac Financial Services (NYSE:PFSI) issued its earnings results on Tuesday. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62), Briefing.com reports. The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI traded down $3.21 during trading on Wednesday, hitting $100.43. The company had a trading volume of 146,043 shares, compared to its average volume of 253,393. PennyMac Financial Services has a 52 week low of $62.15 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $5.14 billion, a P/E ratio of 28.61, a PEG ratio of 0.67 and a beta of 1.77. The business’s 50-day moving average is $107.66 and its 200 day moving average is $98.09.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00. Following the completion of the sale, the chief executive officer now directly owns 190,604 shares in the company, valued at approximately $20,503,272.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the sale, the chief executive officer now directly owns 190,604 shares in the company, valued at $20,503,272.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 of the company’s stock, valued at $191,221.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,855 shares of company stock valued at $9,647,599. 16.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PFSI. Piper Sandler raised their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays raised their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a report on Monday, July 22nd. Finally, Wedbush lifted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of “Hold” and a consensus price target of $112.67.

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.