PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella Sells 7,107 Shares

Key Points

• PennyMac Financial Services Director Joseph F. Mazzella sold 7,107 shares at an average price of $108.16 per share, totaling approximately $768,693, which reduced his ownership stake by 7.63%.
• The company reported a Q2 EPS of $1.02, significantly missing analysts' estimates of $3.01, with revenue of $444.73 million compared to expected $547.44 million.
• PennyMac Financial Services recently announced a quarterly dividend of $0.30 per share, offering a 1.1% yield and a payout ratio of 16.64%.

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) Director Joseph F. Mazzella sold 7,107 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total transaction of $768,693.12. Following the transaction, the director directly owned 86,050 shares of the company's stock, valued at approximately $9,307,168. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PennyMac Financial Services Trading Up 0.9%

Shares of NYSE PFSI traded up $0.93 during trading on Tuesday, hitting $106.44. 14,776 shares of the company were exchanged, compared to its average volume of 377,078. The company has a fifty day moving average price of $99.08 and a 200-day moving average price of $98.82. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $5.50 billion, a PE ratio of 14.77 and a beta of 1.50. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($1.99). The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. As a group, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 13th. PennyMac Financial Services's dividend payout ratio (DPR) is 16.64%.

Analysts Set New Price Targets

PFSI has been the topic of a number of recent analyst reports. Wall Street Zen lowered PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Piper Sandler cut their target price on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. UBS Group decreased their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Barclays cut their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services has a consensus rating of "Moderate Buy" and an average target price of $118.67.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in PennyMac Financial Services in the 2nd quarter valued at about $26,000. CWM LLC raised its holdings in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 113 shares in the last quarter. Strs Ohio acquired a new position in PennyMac Financial Services during the 1st quarter worth approximately $30,000. TD Waterhouse Canada Inc. purchased a new stake in shares of PennyMac Financial Services in the 4th quarter valued at approximately $39,000. Finally, Sterling Capital Management LLC lifted its position in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 343 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

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.