PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Sells $273,705.95 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total value of $273,705.95. Following the transaction, the executive now owns 4,878 shares of the company’s stock, valued at $500,238.90. The trade was a 35.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

PennyMac Financial Services Stock Down 0.9 %

PFSI opened at $101.14 on Friday. The stock has a fifty day moving average of $103.17 and a 200-day moving average of $104.64. The company has a market capitalization of $5.20 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.19%. PennyMac Financial Services’s payout ratio is 20.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $956,000. Massachusetts Financial Services Co. MA acquired a new position in PennyMac Financial Services during the third quarter valued at approximately $24,644,000. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Financial Services by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after purchasing an additional 31,035 shares during the last quarter. FMR LLC boosted its holdings in shares of PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after purchasing an additional 815,389 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of 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 valued at $173,000 after purchasing an additional 290 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

PFSI has been the subject of several research analyst reports. Piper Sandler reduced their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. One investment 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’s stock. According to MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus target price of $122.17.

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.