Mark Elbaum Sells 410 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Mark Elbaum sold 410 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider now directly owns 4,207 shares of the company’s stock, valued at approximately $432,816.16. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PennyMac Financial Services Trading Down 4.0 %

Shares of PennyMac Financial Services stock opened at $92.05 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.19 and a beta of 1.73. The firm’s 50-day moving average price is $101.17 and its two-hundred day moving average price is $103.74.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results 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%. On average, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Tuesday. Piper Sandler decreased their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.67.

Institutional Trading of PennyMac Financial Services

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in PennyMac Financial Services by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after acquiring an additional 199,667 shares in the last quarter. FMR LLC increased its position in PennyMac Financial Services by 11.9% during the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock worth $133,380,000 after purchasing an additional 138,853 shares in the last quarter. Invesco Ltd. lifted its stake in PennyMac Financial Services by 0.3% in the 4th quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust’s stock valued at $120,878,000 after purchasing an additional 3,527 shares during the last quarter. JPMorgan Chase & Co. boosted its position in 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 buying an additional 21,751 shares in the last quarter. Finally, State Street Corp grew its stake in shares of 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 worth $103,911,000 after buying an additional 51,777 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.