PennyMac Financial Services (NYSE:PFSI) Posts Earnings Results, Misses Estimates By $1.57 EPS

PennyMac Financial Services (NYSE:PFSI - Get Free Report) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57), Zacks reports. The firm had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same period in the prior year, the firm posted $0.74 earnings per share.

PennyMac Financial Services Trading Down 1.5 %

NYSE PFSI traded down $1.46 during mid-day trading on Friday, reaching $93.65. 312,221 shares of the stock were exchanged, compared to its average volume of 304,380. The stock has a market cap of $4.82 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services has a one year low of $84.93 and a one year high of $119.13. The stock has a 50 day simple moving average of $98.69 and a 200-day simple moving average of $102.27.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be given a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 18.40%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PFSI shares. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating on the stock in a research report on Wednesday. UBS Group lowered their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company lowered their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Keefe, Bruyette & Woods upgraded 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 report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Insiders Place Their Bets

In other news, CRO Abbie Tidmore sold 2,669 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $102.55, for a total transaction of $273,705.95. Following the transaction, the executive now owns 4,878 shares of the company's stock, valued at $500,238.90. This represents a 35.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Follette sold 1,983 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the sale, the insider now directly owns 10,497 shares of the company's stock, valued at $1,048,965.21. The trade was a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,464 shares of company stock worth $4,540,867. Company insiders own 16.60% 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.