PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 5,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $101.28, for a total transaction of $506,400.00. Following the completion of the sale, the chief executive officer now directly owns 155,604 shares in the company, valued at approximately $15,759,573.12. This represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 27th, David Spector sold 6,839 shares of PennyMac Financial Services stock. The stock was sold at an average price of $102.12, for a total transaction of $698,398.68.
• 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 shares were sold at an average price of $101.72, for a total transaction of $6,217,126.40.

PennyMac Financial Services Trading Up 0.8 %

PFSI opened at $101.82 on Monday. 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, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The firm has a market capitalization of $5.24 billion, a PE ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.90. The company’s 50-day moving average is $103.61 and its 200 day moving average is $105.21.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS 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%. As a group, research analysts predict 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 disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid 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 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Analysts Set New Price Targets

PFSI has been the topic of a number of research analyst reports. Piper Sandler cut their price target 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. Keefe, Bruyette & Woods cut their price objective on shares of 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at approximately $37,000. TD Waterhouse Canada Inc. bought a new position in PennyMac Financial Services in the 4th quarter worth approximately $39,000. Sterling Capital Management LLC boosted its holdings in PennyMac Financial Services by 601.8% in 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 bought a new position in PennyMac Financial Services in the 4th quarter worth approximately $71,000. Finally, Parkside Financial Bank & Trust boosted its holdings in PennyMac Financial Services by 54.7% in 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. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.