PennyMac Financial Services (NYSE:PFSI) Shares Gap Down on Insider Selling

PennyMac Financial Services Inc (NYSE:PFSI)’s stock price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $39.81, but opened at $37.17. PennyMac Financial Services shares last traded at $35.46, with a volume of 3,724,688 shares traded.

Specifically, Director Joseph F. Mazzella sold 18,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.96, for a total value of $611,280.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David M. Walker sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,128 shares of company stock worth $4,078,116. Corporate insiders own 22.17% of the company’s stock.

A number of equities analysts have recently commented on PFSI shares. ValuEngine cut PennyMac Financial Services from a “sell” rating to a “strong sell” rating in a report on Thursday, December 26th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a report on Sunday, December 8th. Barclays restated a “buy” rating and issued a $37.00 price target on shares of PennyMac Financial Services in a research report on Friday, October 25th. Piper Jaffray Companies raised their price target on PennyMac Financial Services from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Wedbush lifted their price objective on shares of PennyMac Financial Services from $34.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.14.

The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 2.18. The firm has a market cap of $3.01 billion, a P/E ratio of 7.18, a P/E/G ratio of 0.73 and a beta of 0.44. The company’s 50 day simple moving average is $34.52 and its 200-day simple moving average is $31.74.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.31. The business had revenue of $490.38 million during the quarter, compared to analyst estimates of $454.75 million. PennyMac Financial Services had a return on equity of 21.86% and a net margin of 26.60%. Equities research analysts predict that PennyMac Financial Services Inc will post 5.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is currently 9.82%.

Several hedge funds have recently modified their holdings of PFSI. First Trust Advisors LP boosted its position in shares of PennyMac Financial Services by 2.6% during the 1st quarter. First Trust Advisors LP now owns 111,812 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 2,862 shares during the last quarter. Bank of America Corp DE boosted its position in shares of PennyMac Financial Services by 62.1% during the 2nd quarter. Bank of America Corp DE now owns 37,441 shares of the real estate investment trust’s stock valued at $830,000 after acquiring an additional 14,339 shares during the last quarter. Navellier & Associates Inc bought a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at about $530,000. Meeder Asset Management Inc. boosted its position in shares of PennyMac Financial Services by 8.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 6,960 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 529 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PennyMac Financial Services by 17.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 526 shares during the last quarter. 51.10% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile (NYSE:PFSI)

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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