PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) Director Doug Jones sold 23,229 shares of PennyMac Financial Services stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79. Following the transaction, the director now directly owns 23,892 shares in the company, valued at approximately $2,425,276.92. The trade was a 49.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Doug Jones also recently made the following trade(s):
PFSI stock traded up $0.79 during mid-day trading on Thursday, hitting $102.97. The company had a trading volume of 257,954 shares, compared to its average volume of 258,156. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 32.69 and a beta of 1.78. The company has a 50-day moving average price of $103.84 and a 200 day moving average price of $102.32. 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, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million during the quarter, compared to analysts' expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PennyMac Financial Services's dividend payout ratio is currently 38.10%.
Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in PennyMac Financial Services by 6.0% in the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock worth $103,911,000 after buying an additional 51,777 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services in the third quarter valued at $614,000. FORA Capital LLC bought a new stake in shares of PennyMac Financial Services in the 3rd quarter worth about $616,000. HighTower Advisors LLC purchased a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $702,000. Finally, Massachusetts Financial Services Co. MA bought a new position in PennyMac Financial Services during the 3rd quarter valued at about $24,644,000. 57.87% of the stock is owned by hedge funds and other institutional investors.
PFSI has been the subject of a number of recent analyst reports. Wedbush reiterated an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Piper Sandler upped their target price 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. Wells Fargo & Company raised their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Barclays boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research report on Tuesday, December 10th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.50.
Read Our Latest Stock Analysis on 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.
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