Doug Jones Sells 7,882 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 7,882 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $103.16, for a total value of $813,107.12. Following the transaction, the director now directly owns 450,000 shares in the company, valued at approximately $46,422,000. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Doug Jones also recently made the following trade(s):

• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The stock was sold at an average price of $102.04, for a total value of $61,224.00.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79.

PennyMac Financial Services Trading Down 0.9 %

Shares of PFSI stock opened at $102.07 on Friday. The stock has a market cap of $5.23 billion, a P/E ratio of 32.40 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1 year low of $81.93 and a 1 year 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 has a 50 day simple moving average of $103.54 and a 200 day simple moving average of $102.41.

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

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. PennyMac Financial Services’s payout ratio is 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds have recently bought and sold shares of PFSI. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services during the 3rd quarter worth approximately $37,000. Blue Trust Inc. raised its position in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 262 shares in the last quarter. KBC Group NV lifted its stake in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $203,000. 57.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased 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 report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler increased their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.50.

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.