Derek Stark Sells 588 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 588 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total value of $59,693.76. Following the transaction, the insider now directly owns 25,621 shares of the company’s stock, valued at approximately $2,601,043.92. The trade was a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Derek Stark also recently made the following trade(s):

• On Friday, February 28th, Derek Stark sold 2,110 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.07, for a total transaction of $217,477.70.

PennyMac Financial Services Price Performance

PFSI stock traded down $1.88 during mid-day trading on Tuesday, reaching $101.74. The company’s stock had a trading volume of 322,828 shares, compared to its average volume of 343,774. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company’s 50 day moving average is $103.64 and its two-hundred day moving average is $105.15. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The stock has a market cap of $5.23 billion, a PE ratio of 17.42, a P/E/G ratio of 0.19 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its stake in PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 154 shares during the last quarter. KBC Group NV increased its position in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 209 shares during the last quarter. Quantbot Technologies LP raised its holdings in 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 buying an additional 290 shares during the period. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services in the third quarter valued at about $37,000. Finally, Sterling Capital Management LLC boosted its stake in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFSI has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $122.17.

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.