PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 10,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00. Following the sale, the chief executive officer now directly owns 180,604 shares in the company, valued at approximately $18,970,644.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
David Spector also recently made the following trade(s):
- 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 value of $1,075,700.00.
- On Tuesday, September 17th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00.
- On Wednesday, August 21st, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.31, for a total value of $993,100.00.
PennyMac Financial Services Price Performance
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PennyMac Financial Services stock opened at $102.64 on Thursday. PennyMac Financial Services, Inc. has a 1 year low of $73.01 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a 50-day moving average of $107.57 and a two-hundred day moving average of $99.53. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 32.58 and a beta of 1.79.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to analysts' expectations of $513.12 million. During the same period in the prior year, the business posted $1.77 EPS. The company's quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast 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 will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.17%. PennyMac Financial Services's payout ratio is 38.10%.
Wall Street Analyst Weigh In
Several research firms recently commented on PFSI. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price objective on the stock. in a research report on Monday, July 22nd. Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Wedbush reaffirmed an "outperform" rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.86.
View Our Latest Analysis on PennyMac Financial Services
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 109 shares during the period. KBC Group NV raised its stake in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after purchasing an additional 226 shares during the period. QRG Capital Management Inc. raised its stake in shares of PennyMac Financial Services by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust's stock worth $3,087,000 after purchasing an additional 232 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock worth $80,000 after buying an additional 262 shares during the period. Finally, Quantbot Technologies LP increased its position in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after buying an additional 290 shares during the period. Hedge funds and other institutional investors own 57.87% of the company's stock.
About PennyMac Financial Services
(
Get Free Report)
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.
Further Reading
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