PennyMac Financial Services, Inc. Declares Quarterly Dividend of $0.30 (NYSE:PFSI)

Key Points

• PennyMac Financial Services declared a quarterly dividend of $0.30 per share, payable August 27 to shareholders of record on August 17. The dividend implies an annualized payout of $1.20 and a 1.5% yield.
• The dividend appears well covered, with an 8.0% payout ratio and analysts forecasting $11.28 in earnings per share next year, implying an expected payout ratio of 10.6%.
• PennyMac reported quarterly earnings of $1.39 per share, missing the $2.11 consensus estimate, although revenue increased 11.8% year over year.

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) declared a quarterly dividend on Monday, July 27th. Investors of record on Monday, August 17th will be paid a dividend of 0.30 per share by the real estate investment trust on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 17th.

PennyMac Financial Services has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. PennyMac Financial Services has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PennyMac Financial Services to earn $11.28 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.6%.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $78.10 on Friday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Financial Services has a one year low of $71.68 and a one year high of $160.36. The company has a 50-day simple moving average of $81.68 and a two-hundred day simple moving average of $88.30. The firm has a market capitalization of $4.06 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.74 and a beta of 1.45.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. During the same period in the prior year, the firm earned $2.54 EPS. The business's revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that PennyMac Financial Services will post 7.42 EPS for the current fiscal year.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc NYSE: PFSI is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.

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