Key Points
- Director Doug Jones sold 20,000 shares on Nov. 25 at $132.63 for $2.65M and, together with two earlier November sales, disposed of 47,771 shares for roughly $6.19M total, leaving him with 430,000 shares (~$57.0M) — a 4.44% reduction in his stake.
- PennyMac beat recent estimates, reporting $3.37 EPS vs. $2.98 expected and $632.9M revenue (up 53.7% YoY); the company has a $7.07B market cap, a P/E of 14.66, and pays a $0.30 quarterly dividend (≈0.9% yield).
- Analyst sentiment is mildly positive — the stock carries an average "Moderate Buy" rating with a $138.67 average price target after several firms raised targets and issued buy/overweight views.
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) Director Doug Jones sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $132.63, for a total transaction of $2,652,600.00. Following the transaction, the director directly owned 430,000 shares in the company, valued at $57,030,900. The trade was a 4.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Doug Jones also recently made the following trade(s):
- On Monday, November 10th, Doug Jones sold 23,453 shares of PennyMac Financial Services stock. The stock was sold at an average price of $127.56, for a total value of $2,991,664.68.
- On Wednesday, November 5th, Doug Jones sold 4,318 shares of PennyMac Financial Services stock. The shares were sold at an average price of $126.09, for a total value of $544,456.62.
PennyMac Financial Services Stock Up 1.7%
Shares of NYSE:PFSI opened at $136.01 on Thursday. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $136.48. The stock's 50-day moving average price is $124.57 and its two-hundred day moving average price is $110.10. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 14.66 and a beta of 1.56.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.98 by $0.39. The firm had revenue of $632.90 million during the quarter, compared to the consensus estimate of $573.46 million. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. PennyMac Financial Services's revenue was up 53.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.
PennyMac Financial Services Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were issued a $0.30 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 12.93%.
Hedge Funds Weigh In On PennyMac Financial Services
Several institutional investors and hedge funds have recently made changes to their positions in PFSI. EverSource Wealth Advisors LLC bought a new stake in shares of PennyMac Financial Services in the 2nd quarter worth about $26,000. CWM LLC grew its position in shares of PennyMac Financial Services by 71.5% in the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 113 shares in the last quarter. Strs Ohio acquired a new stake in shares of PennyMac Financial Services during the 1st quarter valued at approximately $30,000. Harbor Capital Advisors Inc. lifted its stake in PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 105 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in PennyMac Financial Services by 95.5% in the third quarter. Covestor Ltd now owns 567 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 277 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PFSI has been the topic of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of PennyMac Financial Services in a report on Friday, October 31st. Wall Street Zen upgraded shares of PennyMac Financial Services from a "hold" rating to a "buy" rating in a report on Saturday, November 1st. Piper Sandler increased their price objective on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 22nd. Wells Fargo & Company increased their price target on PennyMac Financial Services from $115.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods increased their target price on PennyMac Financial Services from $129.00 to $138.00 and gave the company a "market perform" rating in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.67.
View Our Latest Stock Analysis on PennyMac Financial Services
PennyMac Financial Services Company Profile
(
Get Free Report)
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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