Key Points
- Insider sale: CAO Gregory Hendry sold 3,530 shares on Dec. 18 at an average price of $131.64 for about $464,689, reducing his position by 6.77% to 48,633 shares (SEC Form 4 filed).
- Company performance and payout: PennyMac beat Q earnings expectations with $3.37 EPS and $632.9M revenue (up 53.7% YoY), has a market cap of about $6.96B and a P/E of 14.43, and pays a $0.30 quarterly dividend (≈$1.20 annualized, 0.9% yield).
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CAO Gregory Hendry sold 3,530 shares of the firm's stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $131.64, for a total value of $464,689.20. Following the completion of the sale, the chief accounting officer directly owned 48,633 shares of the company's stock, valued at $6,402,048.12. This trade represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
PennyMac Financial Services Price Performance
Shares of NYSE:PFSI opened at $133.91 on Friday. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $137.53. The stock's 50 day moving average is $127.98 and its 200-day moving average is $114.06. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.43 and a beta of 1.58.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The business had revenue of $632.90 million during the quarter, compared to analyst estimates of $573.46 million. During the same quarter in the previous year, the business posted $1.30 EPS. PennyMac Financial Services's quarterly revenue was up 53.7% on a year-over-year basis. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. PennyMac Financial Services's payout ratio is presently 12.93%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at $26,000. Strs Ohio bought a new position in PennyMac Financial Services during the first quarter valued at about $30,000. Harbor Capital Advisors Inc. increased its holdings 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 buying an additional 105 shares during the last quarter. CWM LLC raised its position in PennyMac Financial Services by 92.7% in the third quarter. CWM LLC now owns 555 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 267 shares during the period. Finally, Covestor Ltd boosted its stake 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 valued at $70,000 after acquiring an additional 277 shares during the last quarter. Institutional investors own 57.87% of the company's stock.
Analyst Upgrades and Downgrades
PFSI has been the subject of a number of recent research reports. Zacks Research raised PennyMac Financial Services from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Wells Fargo & Company upped their price target on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, October 22nd. Jefferies Financial Group initiated coverage on PennyMac Financial Services in a research note on Friday. They set a "buy" rating and a $160.00 price objective on the stock. UBS Group upped their target price on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of PennyMac Financial Services from $138.00 to $143.00 and gave the company a "market perform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.43.
Get Our Latest Stock Report on PennyMac Financial Services
PennyMac Financial Services Company Profile
(
Get Free Report)
PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.
Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.
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