Joseph F. Mazzella Sells 11,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) Director Joseph F. Mazzella sold 11,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the sale, the director now directly owns 92,863 shares in the company, valued at $9,121,932.49. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Stock Up 1.1%

PFSI stock traded up $1.12 during midday trading on Monday, hitting $98.73. The company's stock had a trading volume of 15,505 shares, compared to its average volume of 304,695. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13. The firm's 50-day moving average is $97.70 and its 200-day moving average is $101.59. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market cap of $5.10 billion, a PE ratio of 16.90, a P/E/G ratio of 0.19 and a beta of 1.60.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The firm had revenue of $430.90 million for the quarter, compared to analysts' expectations of $520.42 million. During the same quarter last year, the company posted $0.74 EPS. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, May 14th. PennyMac Financial Services's payout ratio is currently 18.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PFSI shares. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group reduced their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.17.

Institutional Investors Weigh In On PennyMac Financial Services

Several large investors have recently bought and sold shares of PFSI. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Financial Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust's stock worth $46,352,000 after purchasing an additional 6,459 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of PennyMac Financial Services during the fourth quarter valued at about $1,307,000. Assenagon Asset Management S.A. lifted its stake in shares of PennyMac Financial Services by 27.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust's stock worth $2,779,000 after buying an additional 5,833 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth about $518,000. Finally, Barclays PLC increased its stake in shares of PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock worth $6,859,000 after acquiring an additional 50,238 shares during the period. Institutional investors own 57.87% of the company's stock.

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.