Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells 2,110 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 2,110 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $103.07, for a total value of $217,477.70. Following the completion of the sale, the insider now owns 26,209 shares in the company, valued at approximately $2,701,361.63. This represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, March 4th, Derek Stark sold 588 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.52, for a total value of $59,693.76.

PennyMac Financial Services Trading Down 1.8 %

NYSE:PFSI traded down $1.88 during trading hours on Tuesday, hitting $101.74. 322,828 shares of the stock were exchanged, compared to its average volume of 343,774. 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 twelve month low of $83.03 and a twelve month high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.23 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last posted 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%. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PFSI. Keefe, Bruyette & Woods decreased their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler decreased their price target on 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, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PFSI. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $37,000. TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services during the 4th quarter worth $39,000. Sterling Capital Management LLC raised its stake in PennyMac Financial Services by 601.8% during the 4th 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. Aquatic Capital Management LLC acquired a new stake in PennyMac Financial Services during the 4th quarter worth $71,000. Finally, Parkside Financial Bank & Trust raised its stake in PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 389 shares during the period. Institutional investors and hedge funds 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.