Key Points
- PennyMac Financial Services CAO Gregory Hendry sold 2,177 shares on July 1 at an average price of $86.89, totaling about $189,160. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock has been under pressure, recently opening at $83.54 and trading near its 52-week low of $77.67, well below its 200-day moving average of $100.74. The company’s shares are currently valued at a market cap of $4.34 billion with a P/E ratio of 8.88.
- Recent fundamentals and analyst sentiment are mixed: PennyMac missed quarterly EPS estimates by $0.03, though revenue rose 26.5% year over year. Analysts currently have a consensus rating of Hold, with an average target price of $116.38.
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CAO Gregory Hendry sold 2,177 shares of PennyMac Financial Services stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total value of $189,159.53. Following the completion of the sale, the chief accounting officer directly owned 48,968 shares in the company, valued at $4,254,829.52. This represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PennyMac Financial Services Stock Down 1.5%
PFSI stock opened at $83.54 on Friday. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $4.34 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.55 and a beta of 1.44. The business has a 50-day moving average of $85.34 and a 200-day moving average of $100.74. PennyMac Financial Services, Inc. has a fifty-two week low of $77.67 and a fifty-two week high of $160.36.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The firm had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. During the same quarter in the previous year, the business posted $1.42 earnings per share. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current fiscal year.
PennyMac Financial Services Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. PennyMac Financial Services's dividend payout ratio is 12.75%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PFSI shares. Weiss Ratings downgraded shares of PennyMac Financial Services from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on shares of PennyMac Financial Services from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Zacks Research lowered shares of PennyMac Financial Services from a "hold" rating to a "strong sell" rating in a research note on Friday, May 8th. Barclays cut their price target on shares of PennyMac Financial Services from $116.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Finally, Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $112.00 to $106.00 and set an "overweight" rating for the company in a research note on Thursday. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, PennyMac Financial Services has a consensus rating of "Hold" and an average target price of $116.38.
Get Our Latest Stock Report on PFSI
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. 140 Summer Partners LP acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $55,268,000. Norges Bank acquired a new stake in PennyMac Financial Services in the 4th quarter valued at about $44,287,000. Two Sigma Investments LP lifted its stake in PennyMac Financial Services by 1,148.7% in the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust's stock valued at $38,517,000 after purchasing an additional 286,019 shares during the last quarter. Janus Henderson Group PLC grew its holdings in PennyMac Financial Services by 1,882.2% during the first quarter. Janus Henderson Group PLC now owns 267,868 shares of the real estate investment trust's stock worth $23,423,000 after purchasing an additional 254,354 shares during the period. Finally, Bank of America Corp DE grew its holdings in PennyMac Financial Services by 173.9% during the first quarter. Bank of America Corp DE now owns 379,429 shares of the real estate investment trust's stock worth $33,162,000 after purchasing an additional 240,902 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.
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.
Further Reading
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