PennyMac Financial Services (NYSE:PFSI – Get Free Report) announced its earnings results on Tuesday. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80), Briefing.com reports. PennyMac Financial Services had a return on equity of 12.78% and a net margin of 13.13%. The business had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. During the same period in the previous year, the firm earned $1.11 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year.
PennyMac Financial Services Trading Up 2.8 %
Shares of NYSE:PFSI traded up $2.73 during midday trading on Thursday, hitting $99.30. The company had a trading volume of 397,071 shares, compared to its average volume of 244,961. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 0.65 and a beta of 1.72. The firm has a fifty day simple moving average of $93.60 and a 200 day simple moving average of $90.10. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services has a 12 month low of $62.15 and a 12 month high of $105.94.
PennyMac Financial Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio is 27.78%.
Analyst Ratings Changes
Read Our Latest Stock Report on PennyMac Financial Services
Insider Buying and Selling at PennyMac Financial Services
In other news, Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the transaction, the director now owns 116,546 shares of the company’s stock, valued at approximately $10,574,218.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Joseph F. Mazzella sold 16,465 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the sale, the director now directly owns 116,546 shares in the company, valued at $10,574,218.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the transaction, the chief executive officer now directly owns 230,604 shares of the company’s stock, valued at approximately $20,883,498.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,865 shares of company stock valued at $8,045,169. Corporate insiders own 16.60% 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.
Recommended Stories
- Five stocks we like better than PennyMac Financial Services
- Manufacturing Stocks Investing
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- Insider Buying Explained: What Investors Need to Know
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- Options Trading – Understanding Strike Price
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.