Key Points
- Insider Derek Stark sold 1,066 PFSI shares on March 3 at $87.66 (≈$93,446), trimming his position to 20,944 shares; he also sold 1,903 shares on Feb. 25 at $91.50, signaling recent insider selling activity.
- PennyMac missed Q4 estimates with $1.97 EPS vs. $3.23 expected and $538M revenue vs. $639.8M expected, though revenue was up 14.4% YoY; analysts have cut price targets amid mixed ratings while the stock trades well below its 52-week high (market cap ≈ $4.68B, P/E 9.65).
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) insider Derek Stark sold 1,066 shares of PennyMac Financial Services stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $87.66, for a total value of $93,445.56. Following the completion of the transaction, the insider owned 20,944 shares of the company's stock, valued at $1,835,951.04. The trade was a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Derek Stark also recently made the following trade(s):
- On Wednesday, February 25th, Derek Stark sold 1,903 shares of PennyMac Financial Services stock. The shares were sold at an average price of $91.50, for a total transaction of $174,124.50.
PennyMac Financial Services Stock Down 0.7%
Shares of PennyMac Financial Services stock opened at $89.75 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.32. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $160.36. The company has a market capitalization of $4.68 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.51 and a beta of 1.56. The company has a 50 day moving average of $120.20 and a 200 day moving average of $122.37.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.23 by ($1.26). The firm had revenue of $538.01 million during the quarter, compared to analyst estimates of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.20%. PennyMac Financial Services's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 earnings per share. As a group, research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. PennyMac Financial Services's payout ratio is 12.90%.
Hedge Funds Weigh In On PennyMac Financial Services
A number of institutional investors have recently modified their holdings of PFSI. Caitong International Asset Management Co. Ltd raised its position in PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 228 shares during the last quarter. Virtu Financial LLC purchased a new position in PennyMac Financial Services during the 4th quarter worth $379,000. Invesco Ltd. increased its stake in PennyMac Financial Services by 7.3% in the fourth quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust's stock valued at $206,881,000 after purchasing an additional 106,088 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of PennyMac Financial Services by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,167 shares of the real estate investment trust's stock valued at $1,340,000 after buying an additional 504 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth about $479,000. 57.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on PennyMac Financial Services from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $143.00 to $115.00 and set a "market perform" rating on the stock in a research note on Monday, February 2nd. Weiss Ratings cut shares of PennyMac Financial Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, January 20th. Barclays lowered their target price on shares of PennyMac Financial Services from $158.00 to $136.00 and set an "overweight" rating for the company in a report on Friday, January 30th. Finally, Jefferies Financial Group initiated coverage on shares of PennyMac Financial Services in a research note on Friday, December 19th. They set a "buy" rating and a $160.00 price target on the stock. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $139.71.
Check Out Our Latest Stock Analysis on PFSI
About PennyMac Financial Services
(
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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