PennyMac Financial Services, Inc. Declares Quarterly Dividend of $0.30 (NYSE:PFSI)

PennyMac Financial Services, Inc. (NYSE:PFSI) declared a quarterly dividend on Tuesday, October 22nd, NASDAQ reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.30 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, November 18th.

PennyMac Financial Services has raised its dividend payment by an average of 14.0% per year over the last three years. PennyMac Financial Services has a dividend payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PennyMac Financial Services to earn $13.54 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.9%.

PennyMac Financial Services Price Performance

NYSE PFSI traded down $3.64 on Wednesday, reaching $100.00. The company’s stock had a trading volume of 750,363 shares, compared to its average volume of 256,341. PennyMac Financial Services has a 52 week low of $62.15 and a 52 week high of $119.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm has a market cap of $5.12 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.77. The business has a 50-day moving average price of $107.66 and a 200 day moving average price of $98.09.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. Sell-side analysts expect that PennyMac Financial Services will post 11.22 EPS for the current year.

Wall Street Analyst Weigh In

PFSI has been the topic of several recent analyst reports. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a report on Monday, July 22nd. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday. Finally, Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $114.33.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the transaction, the chief executive officer now owns 210,604 shares of the company’s stock, valued at approximately $20,915,083.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Anne Mccallion sold 23,829 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the transaction, the director now directly owns 1,854 shares in the company, valued at approximately $191,221.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the sale, the chief executive officer now owns 210,604 shares in the company, valued at $20,915,083.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 89,855 shares of company stock worth $9,647,599. 16.60% of the stock is owned by company insiders.

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.