PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 5,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the sale, the chief executive officer directly owned 135,604 shares of the company's stock, valued at $13,670,239.24. This trade represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

David Spector also recently made the following trade(s):

• On Wednesday, June 11th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $98.29, for a total value of $491,450.00.
• On Wednesday, May 14th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $99.15, for a total value of $495,750.00.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded up $0.58 during trading hours on Tuesday, hitting $100.71. The company's stock had a trading volume of 395,057 shares, compared to its average volume of 324,944. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $5.20 billion, a PE ratio of 15.45, a PEG ratio of 0.21 and a beta of 1.53. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $119.13. The business has a 50 day moving average price of $97.64 and a two-hundred day moving average price of $99.81.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. The company had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.19%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 18.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PFSI shares. Wells Fargo & Company reduced their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price for the company in a research note on Tuesday, April 8th. Piper Sandler lowered their target price on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. UBS Group lowered their target price on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays lowered their price target on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $119.67.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 113 shares during the last quarter. Strs Ohio purchased a new position in PennyMac Financial Services in the 1st quarter worth $30,000. TD Waterhouse Canada Inc. purchased a new position in PennyMac Financial Services in the 4th quarter worth $39,000. Sterling Capital Management LLC raised its stake in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 343 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at about $71,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.