Insider Buying: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Purchases 6,963 Shares of Stock

Last updated on Tuesday, June 22, 2021 | 2021 MarketBeat

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Farhad Nanji bought 6,963 shares of the stock in a transaction on Monday, June 21st. The shares were bought at an average price of $62.66 per share, with a total value of $436,301.58. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Farhad Nanji also recently made the following trade(s):

  • On Friday, June 18th, Farhad Nanji bought 52,619 shares of PennyMac Financial Services stock. The shares were bought at an average price of $62.32 per share, with a total value of $3,279,216.08.
  • On Monday, June 14th, Farhad Nanji acquired 115,428 shares of PennyMac Financial Services stock. The shares were acquired at an average price of $61.85 per share, with a total value of $7,139,221.80.
  • On Friday, June 11th, Farhad Nanji acquired 77,396 shares of PennyMac Financial Services stock. The shares were acquired at an average price of $61.95 per share, with a total value of $4,794,682.20.
  • On Tuesday, June 1st, Farhad Nanji acquired 46,990 shares of PennyMac Financial Services stock. The shares were acquired at an average price of $62.67 per share, with a total value of $2,944,863.30.
  • On Wednesday, May 26th, Farhad Nanji acquired 12,842 shares of PennyMac Financial Services stock. The shares were acquired at an average price of $61.49 per share, with a total value of $789,654.58.
  • On Wednesday, May 12th, Farhad Nanji acquired 208,973 shares of PennyMac Financial Services stock. The shares were acquired at an average price of $57.09 per share, with a total value of $11,930,268.57.
  • On Monday, March 29th, Farhad Nanji acquired 94,106 shares of PennyMac Financial Services stock. The shares were acquired at an average price of $64.40 per share, with a total value of $6,060,426.40.
  • On Friday, March 26th, Farhad Nanji bought 129,062 shares of PennyMac Financial Services stock. The stock was purchased at an average cost of $64.75 per share, for a total transaction of $8,356,764.50.

PFSI traded down $0.07 during trading on Tuesday, reaching $63.12. The company's stock had a trading volume of 19,347 shares, compared to its average volume of 851,851. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 3.66. The stock has a fifty day simple moving average of $60.45. PennyMac Financial Services, Inc. has a 1 year low of $39.36 and a 1 year high of $70.99. The company has a market capitalization of $4.21 billion, a P/E ratio of 2.79 and a beta of 1.17.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, May 6th. The real estate investment trust reported $5.15 earnings per share for the quarter, missing the Zacks' consensus estimate of $5.79 by ($0.64). The business had revenue of $944.69 million during the quarter, compared to analysts' expectations of $982.06 million. PennyMac Financial Services had a return on equity of 55.61% and a net margin of 43.72%. The company's revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period last year, the business earned $3.73 earnings per share. On average, equities analysts expect that PennyMac Financial Services, Inc. will post 17.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 27th. Investors of record on Monday, May 17th were issued a $0.20 dividend. The ex-dividend date was Friday, May 14th. This represents a $0.80 annualized dividend and a yield of 1.27%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 3.82%.

PFSI has been the topic of several research reports. Barclays upped their target price on PennyMac Financial Services from $87.00 to $89.00 and gave the company an "overweight" rating in a research report on Friday. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $70.00 price target (down from $75.00) on shares of PennyMac Financial Services in a research report on Thursday, March 25th. JMP Securities cut their price target on PennyMac Financial Services from $85.00 to $75.00 and set a "market outperform" rating on the stock in a research report on Thursday, June 3rd. Piper Sandler cut their price target on PennyMac Financial Services from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Friday, May 7th. Finally, Credit Suisse Group cut their price target on PennyMac Financial Services from $80.00 to $74.00 and set an "outperform" rating on the stock in a research report on Monday, May 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of "Buy" and a consensus price target of $80.63.

Institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its holdings in PennyMac Financial Services by 92.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 461 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 221 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in PennyMac Financial Services in the 1st quarter valued at approximately $83,000. CI Investments Inc. acquired a new stake in PennyMac Financial Services in the 4th quarter valued at approximately $81,000. US Bancorp DE grew its stake in shares of PennyMac Financial Services by 17.0% in the fourth quarter. US Bancorp DE now owns 1,341 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 195 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in shares of PennyMac Financial Services by 100.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 2,000 shares of the real estate investment trust's stock worth $131,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 50.28% of the company's stock.

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. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

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