PennyMac Financial Services, Inc., through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans. It sources first-lien residential conventional and government-insured or guaranteed mortgage loans. The Servicing segment engages in the servicing of newly originated loans, and execution and management of early buyout transactions and servicing of loans. It performs loan administration, collection, and default management activities, including the collection and remittance of loan payments, response to customer inquiries, accounting for principal and interest, holding custodial funds for the payment of property taxes and insurance premiums, counseling delinquent borrowers, and supervising foreclosures and property dispositions, as well as administers loss mitigation activities, such as modification and forbearance programs. The Investment Management segment is involved in sourcing, performing diligence, bidding, and closing investment asset acquisitions; managing correspondent production activities for PennyMac Mortgage Investment Trust; and managing acquired assets. PennyMac Financial Services, Inc. was founded in 2008 and is headquartered in Westlake Village, California.
PennyMac Financial Services Price Performance
PFSI Stock traded down $0.61 during trading on Friday, hitting $55.41. 335,310 shares of the company's stock traded hands, compared to its average volume of 373,165. PennyMac Financial Services has a 52 week low of $38.53 and a 52 week high of $71.52. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.31 and a current ratio of 0.31. The business has a fifty day simple moving average of $48.00 and a 200 day simple moving average of $51.79. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 4.69 and a beta of 1.30.
PennyMac Financial Services (NYSE:PFSI - Get Rating) last released its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $2.94 EPS for the quarter, beating the consensus estimate of $2.89 by $0.05. PennyMac Financial Services had a net margin of 27.37% and a return on equity of 23.05%. The business had revenue of $657.50 million during the quarter, compared to analyst estimates of $622.14 million. During the same quarter last year, the business earned $5.15 earnings per share. PennyMac Financial Services's quarterly revenue was down 30.4% compared to the same quarter last year. As a group, research analysts expect that PennyMac Financial Services will post 7.47 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Tuesday, August 16th will be issued a $0.20 dividend. The ex-dividend date is Monday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 6.77%.
Analyst Upgrades and Downgrades
PFSI has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $82.00 to $79.00 and set an "overweight" rating for the company in a research note on Tuesday, June 28th. JMP Securities reduced their price objective on shares of PennyMac Financial Services from $75.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, May 25th. StockNews.com raised shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a research note on Thursday, May 19th. BTIG Research began coverage on shares of PennyMac Financial Services in a research note on Wednesday, April 20th. They set a "buy" rating and a $60.00 target price for the company. Finally, Credit Suisse Group cut their target price on shares of PennyMac Financial Services to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.17.
Insider Transactions at PennyMac Financial Services
In other news, Director Joseph F. Mazzella sold 14,295 shares of the firm's stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $50.10, for a total value of $716,179.50. Following the completion of the sale, the director now owns 337,036 shares in the company, valued at approximately $16,885,503.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph F. Mazzella sold 14,295 shares of the firm's stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $50.10, for a total value of $716,179.50. Following the completion of the sale, the director now owns 337,036 shares in the company, valued at approximately $16,885,503.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph F. Mazzella sold 13,000 shares of the firm's stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $50.12, for a total transaction of $651,560.00. Following the completion of the sale, the director now owns 351,331 shares of the company's stock, valued at approximately $17,608,709.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,795 shares of company stock worth $1,480,640. 18.00% of the stock is currently owned by insiders.
