PennyMac Financial Services, Inc. (NYSE:PFSI) Declares Quarterly Dividend of $0.20

PennyMac Financial Services, Inc. (NYSE:PFSI) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Tuesday, May 14th will be given a dividend of 0.20 per share by the real estate investment trust on Friday, May 24th. This represents a $0.80 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Monday, May 13th.

PennyMac Financial Services has increased its dividend payment by an average of 14.0% per year over the last three years. PennyMac Financial Services has a payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $12.36 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 6.5%.

PennyMac Financial Services Trading Down 6.4 %

PennyMac Financial Services stock opened at $86.20 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The stock’s 50 day simple moving average is $87.95 and its two-hundred day simple moving average is $82.89. The firm has a market cap of $4.35 billion, a PE ratio of 29.93, a P/E/G ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The business had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. Analysts anticipate that PennyMac Financial Services will post 10.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on PFSI. Barclays upped their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.38.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the transaction, the chief executive officer now owns 270,604 shares in the company, valued at approximately $23,591,256.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the transaction, the chief executive officer now owns 270,604 shares in the company, valued at approximately $23,591,256.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now owns 7,257 shares in the company, valued at approximately $625,843.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,802 shares of company stock worth $7,666,108. Corporate insiders own 17.40% of the company’s stock.

About PennyMac Financial Services

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