PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella Sells 11,396 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the sale, the director now directly owns 105,446 shares of the company’s stock, valued at $10,325,272.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $97.75 on Friday. The company has a market cap of $4.98 billion, a P/E ratio of 33.94, a PEG ratio of 0.63 and a beta of 1.72. The stock has a fifty day moving average price of $95.61 and a 200 day moving average price of $91.37. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services, Inc. has a 12 month low of $62.15 and a 12 month high of $105.94.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, research analysts forecast that PennyMac Financial Services, Inc. will post 10.54 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be paid a $0.30 dividend. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. PennyMac Financial Services’s dividend payout ratio is presently 41.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Norges Bank bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $31,258,000. Boston Partners bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $28,191,000. Dimensional Fund Advisors LP grew its stake in shares of PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock worth $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of PennyMac Financial Services in the first quarter worth $6,182,000. Finally, Edgestream Partners L.P. grew its stake in shares of PennyMac Financial Services by 256.9% in the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after purchasing an additional 61,087 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Wedbush lifted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler increased their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $107.17.

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.