PennyMac Financial Services (NYSE:PFSI) Releases Earnings Results, Misses Expectations By $0.21 EPS

PennyMac Financial Services (NYSE:PFSI) released its quarterly earnings data on Thursday. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21), Zacks reports. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%.

PennyMac Financial Services Stock Down 8.4 %

Shares of NYSE PFSI traded down $9.64 during trading on Friday, hitting $105.18. The stock had a trading volume of 162,694 shares, compared to its average volume of 307,603. The firm has a fifty day moving average of $104.67 and a two-hundred day moving average of $104.39. The company has a market capitalization of $5.39 billion, a PE ratio of 33.33, a PEG ratio of 0.21 and a beta of 1.78. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PFSI. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Barclays increased their price objective 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. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Insider Activity

In other news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the sale, the chief executive officer now owns 180,604 shares of the company’s stock, valued at approximately $18,970,644.16. The trade was a 5.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,844 shares of company stock worth $15,079,791. 16.60% of the stock is currently owned by insiders.

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.