PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 6,839 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 6,839 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $102.12, for a total transaction of $698,398.68. Following the sale, the chief executive officer now directly owns 635,554 shares of the company’s stock, valued at $64,902,774.48. This represents a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

David Spector also recently made the following trade(s):

• On Wednesday, January 8th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00.
• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $103.62 on Tuesday. The company’s 50 day moving average price is $103.65 and its two-hundred day moving average price is $105.12. The firm has a market capitalization of $5.33 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.19 and a beta of 1.78. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

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 for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, equities 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 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. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. 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 Analysts Forecast Growth

A number of brokerages have weighed in on PFSI. Piper Sandler reduced their target price on 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 dropped their price objective on 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 equities 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PFSI. Harbor Capital Advisors Inc. acquired a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $37,000. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services during the fourth quarter valued at $39,000. Sterling Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 343 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services in the fourth quarter worth $71,000. Finally, Parkside Financial Bank & Trust increased its holdings in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after purchasing 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.