Derek Stark Sells 588 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 588 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $101.52, for a total value of $59,693.76. Following the completion of the transaction, the insider now directly owns 25,621 shares of the company’s stock, valued at $2,601,043.92. This represents a 2.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Derek Stark also recently made the following trade(s):

• On Friday, February 28th, Derek Stark sold 2,110 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.07, for a total transaction of $217,477.70.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $102.88 on Thursday. The firm has a fifty day moving average of $103.64 and a 200-day moving average of $105.15. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Analyst Ratings Changes

PFSI has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced 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 report on Tuesday, December 10th. 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, January 31st. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.17.

Institutional Trading of PennyMac Financial Services

Several hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services during the third quarter valued at $37,000. TD Waterhouse Canada Inc. bought a new position in PennyMac Financial Services in the 4th quarter valued at about $39,000. Sterling Capital Management LLC increased its stake in PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 343 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $71,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of PennyMac Financial Services by 54.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares during the period. Institutional investors own 57.87% of the company’s stock.

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.