PennyMac Financial Services (NYSE:PFSI) Share Price Crosses Below 200 Day Moving Average - What's Next?

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-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 changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFSI. Piper Sandler cut their target price on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered 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. UBS Group cut their price objective 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. Finally, Keefe, Bruyette & Woods upgraded shares of 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. 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's stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and an average price target of $120.67.

PennyMac Financial Services Trading Up 1.7%

The company has a market capitalization of $5.23 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 0.20 and a beta of 1.53. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a fifty day moving average price of $96.94 and a 200-day moving average price of $99.82.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted 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). The business had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio (DPR) is currently 18.40%.

Insider Activity at PennyMac Financial Services

In related news, insider Mark Elbaum sold 410 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider owned 4,207 shares of the company's stock, valued at approximately $432,816.16. The trade was a 8.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $98.29, for a total value of $491,450.00. Following the completion of the transaction, the chief executive officer owned 140,604 shares in the company, valued at approximately $13,819,967.16. The trade was a 3.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,910 shares of company stock worth $3,671,336 in the last ninety days. Corporate insiders own 15.80% of the company's stock.

Institutional Trading of PennyMac Financial Services

A number of large investors have recently bought and sold shares of the company. AlphaQuest LLC lifted its position in shares of PennyMac Financial Services by 4.4% during the first quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust's stock worth $259,000 after acquiring an additional 110 shares in the last quarter. CWM LLC grew its position in shares of PennyMac Financial Services by 71.5% in the first 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 in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of PennyMac Financial Services by 5.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 121 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of PennyMac Financial Services by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock valued at $286,000 after purchasing an additional 154 shares during the period. Finally, Strs Ohio purchased a new stake in PennyMac Financial Services during the 1st quarter worth about $30,000. 57.87% of the stock is 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.