PennyMac Financial Services (PFSI) Set to Announce Earnings on Wednesday

PennyMac Financial Services (NYSE:PFSI - Get Free Report) is set to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.34 per share for the quarter. Parties that wish to register for the company's conference call can do so using this link.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.75. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The business had revenue of $361.94 million during the quarter, compared to analyst estimates of $413.35 million. On average, analysts expect PennyMac Financial Services to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

PennyMac Financial Services Stock Up 0.7 %

Shares of PFSI stock traded up $0.63 during trading hours on Thursday, reaching $86.98. The company had a trading volume of 138,035 shares, compared to its average volume of 230,956. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. PennyMac Financial Services has a twelve month low of $56.16 and a twelve month high of $94.78. The company has a market capitalization of $4.39 billion, a P/E ratio of 32.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67. The stock's fifty day simple moving average is $87.84 and its 200 day simple moving average is $82.06.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Monday, February 12th. PennyMac Financial Services's dividend payout ratio is currently 29.52%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFSI shares. StockNews.com raised PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and increased their price target for the company from $100.00 to $105.00 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They issued a "buy" rating and a $115.00 price target for the company. Barclays increased their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. Finally, Wedbush increased their price target on PennyMac Financial Services from $85.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.13.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares of the company's stock, valued at approximately $22,734,794.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the transaction, the chief executive officer now directly owns 250,604 shares in the company, valued at approximately $22,734,794.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction on Monday, March 25th. The shares were sold at an average price of $89.44, for a total value of $470,007.20. Following the transaction, the insider now owns 27,084 shares in the company, valued at $2,422,392.96. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock valued at $7,666,108 in the last quarter. Insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in PennyMac Financial Services by 59.9% during the first quarter. Tower Research Capital LLC TRC now owns 542 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 203 shares during the last quarter. West Tower Group LLC acquired a new stake in PennyMac Financial Services during the fourth quarter valued at $45,000. KBC Group NV acquired a new stake in PennyMac Financial Services during the fourth quarter valued at $73,000. Captrust Financial Advisors boosted its position in PennyMac Financial Services by 75.9% during the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust's stock valued at $126,000 after purchasing an additional 1,247 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in PennyMac Financial Services by 19.9% during the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust's stock valued at $156,000 after purchasing an additional 486 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

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.