PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 5,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $16,457,725.52. This trade represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

David Spector also recently made the following trade(s):

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total value of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $104.95, for a total value of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $96.39 on Friday. PennyMac Financial Services, Inc. has a 52 week low of $81.93 and a 52 week high of $119.13. The company has a 50-day moving average price of $103.34 and a 200 day moving average price of $102.96. The company has a market cap of $4.94 billion, a P/E ratio of 30.60 and a beta of 1.78. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same period in the prior year, the business earned $1.77 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts predict that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. PennyMac Financial Services’s payout ratio is currently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares in the last quarter. Tidal Investments LLC increased its holdings in PennyMac Financial Services by 115.3% in the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock valued at $1,719,000 after buying an additional 8,078 shares in the last quarter. Hohimer Wealth Management LLC acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at approximately $236,000. Geode Capital Management LLC boosted its stake in shares of PennyMac Financial Services by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after acquiring an additional 19,662 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of PennyMac Financial Services by 505.4% in the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock worth $6,859,000 after acquiring an additional 50,238 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays raised their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Piper Sandler lifted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.50.

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.