David Spector Sells 10,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00. Following the transaction, the chief executive officer now directly owns 180,604 shares of the company’s stock, valued at $18,970,644.16. The trade was a 5.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Spector also recently made the following trade(s):

• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00.
• On Tuesday, September 17th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $116.79, for a total transaction of $1,167,900.00.
• On Wednesday, August 21st, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00.

PennyMac Financial Services Price Performance

PFSI opened at $101.26 on Friday. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 32.15 and a beta of 1.79. PennyMac Financial Services, Inc. has a 12-month low of $74.69 and a 12-month high of $119.13. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock’s 50-day moving average price is $107.43 and its 200 day moving average price is $99.54.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same period in the previous year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFSI. Wells Fargo & Company upped their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research note on Monday, July 22nd. Finally, Barclays raised their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average price target of $115.86.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after purchasing an additional 8,345 shares in the last quarter. FMR LLC lifted its holdings in PennyMac Financial Services by 231.9% during the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after buying an additional 815,389 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PennyMac Financial Services by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after acquiring an additional 31,035 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of PennyMac Financial Services by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after acquiring an additional 40,676 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $24,644,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

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.