Key Points
- CEO David Spector sold 10,000 shares on April 14 at an average price of $92.83 under a pre‑arranged Rule 10b5‑1 plan, cutting his stake by 12.41% to 70,604 shares valued at about $6.55 million; he has executed several other recent sales.
- PennyMac missed quarterly expectations, reporting $1.97 EPS vs. $3.23 expected and $538.0M revenue vs. $639.8M expected (revenue was up 14.4% YoY); analysts hold a consensus "Moderate Buy" with an average target of $131.14.
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 10,000 shares of the business's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $92.83, for a total value of $928,300.00. Following the completion of the sale, the chief executive officer directly owned 70,604 shares in the company, valued at $6,554,169.32. This represents a 12.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Spector also recently made the following trade(s):
- On Friday, March 6th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.39, for a total value of $863,900.00.
- On Friday, March 6th, David Spector sold 12,436 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.39, for a total value of $1,074,346.04.
- On Thursday, February 19th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $94.50, for a total value of $945,000.00.
- On Thursday, February 19th, David Spector sold 2,950 shares of PennyMac Financial Services stock. The stock was sold at an average price of $94.52, for a total value of $278,834.00.
PennyMac Financial Services Stock Down 0.8%
PFSI opened at $91.89 on Thursday. PennyMac Financial Services, Inc. has a one year low of $82.65 and a one year high of $160.36. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.34 and a current ratio of 0.34. The stock's fifty day moving average is $89.90 and its 200-day moving average is $116.17. The company has a market capitalization of $4.79 billion, a PE ratio of 9.88, a P/E/G ratio of 0.54 and a beta of 1.52.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 EPS for the quarter, missing analysts' consensus estimates of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The firm had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. During the same period in the prior year, the firm posted $1.95 EPS. The firm's quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. PennyMac Financial Services's dividend payout ratio is currently 12.90%.
Institutional Trading of PennyMac Financial Services
Large investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new stake in PennyMac Financial Services during the 3rd quarter valued at $5,593,000. 140 Summer Partners LP acquired a new stake in PennyMac Financial Services during the 3rd quarter valued at $55,268,000. American Century Companies Inc. raised its stake in PennyMac Financial Services by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 429,403 shares of the real estate investment trust's stock valued at $53,195,000 after purchasing an additional 30,015 shares during the period. Picton Mahoney Asset Management raised its stake in PennyMac Financial Services by 554.1% during the 3rd quarter. Picton Mahoney Asset Management now owns 28,872 shares of the real estate investment trust's stock valued at $3,576,000 after purchasing an additional 24,458 shares during the period. Finally, EMG Holdings L.P. acquired a new stake in PennyMac Financial Services during the 3rd quarter valued at $6,458,000. 57.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PFSI has been the topic of several research reports. Zacks Research raised PennyMac Financial Services from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Barclays dropped their price target on PennyMac Financial Services from $136.00 to $116.00 and set an "overweight" rating on the stock in a report on Monday, April 6th. Jefferies Financial Group initiated coverage on PennyMac Financial Services in a report on Friday, December 19th. They issued a "buy" rating and a $160.00 price target on the stock. Wall Street Zen cut PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Wells Fargo & Company dropped their price target on PennyMac Financial Services from $135.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $131.14.
Read Our Latest Analysis 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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
