PennyMac Financial Services (NYSE:PFSI) CFO Sells $632,970.00 in Stock

Key Points

• PennyMac Financial Services CFO Daniel Stanley Perotti sold 5,850 shares of the company's stock for a total of $632,970, resulting in a 2.50% decrease in his ownership.
• The company's stock recently traded up 3.2% to $112.78, with a market capitalization of $5.83 billion and a PE ratio of 15.64.
• PennyMac Financial Services announced a quarterly dividend of $0.30 per share, with a payout ratio of 16.64% and an annualized yield of 1.1%.

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CFO Daniel Stanley Perotti sold 5,850 shares of PennyMac Financial Services stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $108.20, for a total transaction of $632,970.00. Following the completion of the sale, the chief financial officer owned 228,175 shares in the company, valued at approximately $24,688,535. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennyMac Financial Services Trading Up 3.2%

NYSE:PFSI traded up $3.45 during trading hours on Wednesday, hitting $112.78. The company had a trading volume of 467,070 shares, compared to its average volume of 378,273. The stock has a 50-day moving average price of $101.76 and a 200 day moving average price of $99.26. The company has a market capitalization of $5.83 billion, a PE ratio of 15.64 and a beta of 1.51. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 13th. PennyMac Financial Services's payout ratio is presently 16.64%.

Analysts Set New Price Targets

PFSI has been the topic of several research reports. Piper Sandler dropped their price target on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Keefe, Bruyette & Woods boosted their target price on shares of PennyMac Financial Services from $117.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays dropped their price objective on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company initiated coverage on shares of PennyMac Financial Services in a research note on Monday, August 25th. They set an "overweight" rating and a $115.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $119.33.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. EverSource Wealth Advisors LLC bought a new position in shares of PennyMac Financial Services during the second quarter valued at $26,000. CWM LLC lifted its stake in 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 acquiring an additional 113 shares during the period. Strs Ohio bought a new position in PennyMac Financial Services during the 1st quarter valued at about $30,000. Bayforest Capital Ltd bought a new position in PennyMac Financial Services during the 2nd quarter valued at about $62,000. Finally, Aquatic Capital Management LLC bought a new position in PennyMac Financial Services during the fourth quarter valued at approximately $71,000. 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.

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