PennyMac Financial Services, Inc. (NYSE:PFSI) Shareholders to Collect $0.30 Quarterly Dividend

Key Points

• PennyMac Financial Services declared a quarterly dividend of $0.30 per share, payable November 27 to shareholders of record on November 16, representing an annualized dividend of $1.20 and a 1.9% yield.
• The dividend appears well covered, with an 8.0% current payout ratio and an expected future payout ratio of 11.6% based on projected earnings.
• PennyMac reported quarterly EPS of $1.05, missing the $1.27 analyst consensus, while revenue fell 25.9% year over year to $502 million. The stock opened at $64.50, down substantially from its 12-month high of $160.36.

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.30 per share by the real estate investment trust on Friday, November 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, November 16th.

PennyMac Financial Services has raised its dividend by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 1 years. PennyMac Financial Services has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PennyMac Financial Services to earn $10.32 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 11.6%.

PennyMac Financial Services Stock Up 1.7%

PennyMac Financial Services stock opened at $64.50 on Friday. The firm has a market cap of $3.35 billion, a PE ratio of 8.86 and a beta of 1.45. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.38. The firm's 50 day moving average price is $66.27 and its two-hundred day moving average price is $85.44. PennyMac Financial Services has a twelve month low of $57.52 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.22). The business had revenue of $502.00 million during the quarter, compared to analyst estimates of $531.77 million. PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. PennyMac Financial Services's revenue was down 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.37 earnings per share. On average, research analysts predict that PennyMac Financial Services will post 6.72 EPS for the current fiscal year.

About PennyMac Financial Services

PennyMac Financial Services, Inc NYSE: PFSI is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac's primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.

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