PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Sells $273,705.95 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $102.55, for a total transaction of $273,705.95. Following the transaction, the executive now directly owns 4,878 shares of the company’s stock, valued at $500,238.90. This represents a 35.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PennyMac Financial Services Stock Down 0.4 %

NYSE PFSI opened at $102.59 on Wednesday. The stock has a market capitalization of $5.28 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The stock has a fifty day moving average of $103.31 and a 200-day moving average of $104.68.

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

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of 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. Piper Sandler cut their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued 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.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in PFSI. State Street Corp grew its holdings in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after purchasing an additional 51,777 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Financial Services by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after acquiring an additional 6,459 shares in the last quarter. XTX Topco Ltd acquired a new position in PennyMac Financial Services during the third quarter worth $614,000. Finally, HighTower Advisors LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $702,000. Institutional investors own 57.87% 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.