PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $1,493,869.45 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) Director Joseph F. Mazzella sold 16,465 shares of the firm's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the sale, the director now directly owns 116,546 shares of the company's stock, valued at approximately $10,574,218.58. The transaction was disclosed in a document filed with the SEC, which is available through this link.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI traded up $2.05 during trading on Monday, reaching $92.89. 261,736 shares of the company traded hands, compared to its average volume of 244,793. The firm's fifty day simple moving average is $87.86 and its 200 day simple moving average is $83.99. The stock has a market cap of $4.68 billion, a P/E ratio of 31.54, a PEG ratio of 0.59 and a beta of 1.68. PennyMac Financial Services, Inc. has a 12-month low of $56.16 and a 12-month high of $94.78. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The firm had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. As a group, research analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.86%. PennyMac Financial Services's dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFSI. Wedbush reissued an "outperform" rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. StockNews.com raised PennyMac Financial Services from a "sell" rating to a "hold" rating in a research report on Friday. Barclays raised their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their target price on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reduced their target price on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.75.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. increased its stake in shares of PennyMac Financial Services by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust's stock valued at $5,333,000 after purchasing an additional 17,245 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in PennyMac Financial Services in the 3rd quarter worth about $3,370,000. Graham Capital Management L.P. acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $1,237,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $3,657,000. Finally, Invesco Ltd. boosted its holdings in shares of PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust's stock worth $32,654,000 after purchasing an additional 158,181 shares during the last quarter. Hedge funds and other institutional investors own 57.87% 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. The company 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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