PennyMac Financial Services (NYSE:PFSI) Shares Cross Below 200 Day Moving Average - What's Next?

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $99.92 and traded as low as $99.14. PennyMac Financial Services shares last traded at $99.59, with a volume of 1,479,442 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFSI. Wells Fargo & Company lowered their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a research report on Tuesday, April 8th. Finally, UBS Group reduced 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services has an average rating of "Moderate Buy" and an average price target of $121.17.

PennyMac Financial Services Stock Down 0.3%

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.96. The stock has a 50 day simple moving average of $96.74 and a 200 day simple moving average of $99.92. The firm has a market capitalization of $5.14 billion, a PE ratio of 15.27, a PEG ratio of 0.20 and a beta of 1.55.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The business had revenue of $430.90 million for the quarter, compared to analysts' expectations of $520.42 million. PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00. Following the completion of the transaction, the chief executive officer now directly owns 150,604 shares in the company, valued at approximately $15,578,477.76. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the sale, the director now owns 92,863 shares in the company, valued at $9,121,932.49. The trade was a 10.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,910 shares of company stock valued at $3,671,336. 15.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its position in shares of PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Strs Ohio bought a new position in shares of PennyMac Financial Services during the 1st quarter valued at about $30,000. TD Waterhouse Canada Inc. purchased a new position in shares of PennyMac Financial Services during the fourth quarter valued at about $39,000. Sterling Capital Management LLC increased its holdings in shares of PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth about $71,000. 57.87% of the stock is currently owned by hedge funds and other 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.

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.