Doug Jones Sells 23,229 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 23,229 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the sale, the director now directly owns 23,892 shares in the company, valued at $2,425,276.92. This trade represents a 49.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Doug Jones also recently made the following trade(s):

• On Thursday, December 26th, Doug Jones sold 7,882 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.16, for a total value of $813,107.12.
• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The stock was sold at an average price of $102.04, for a total value of $61,224.00.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $102.07 on Friday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 32.40 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a 52 week low of $81.93 and a 52 week high of $119.13. The company has a 50-day simple moving average of $103.54 and a 200 day simple moving average of $102.41.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). The firm had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 EPS. On average, sell-side analysts predict that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services’s payout ratio is presently 38.10%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PFSI shares. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Barclays boosted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.50.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after acquiring an additional 21,751 shares during the period. Tidal Investments LLC raised its stake in PennyMac Financial Services by 115.3% in the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock valued at $1,719,000 after purchasing an additional 8,078 shares in the last quarter. Hohimer Wealth Management LLC bought a new stake in PennyMac Financial Services during the third quarter worth about $236,000. Geode Capital Management LLC grew its stake in PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after buying an additional 19,662 shares in the last quarter. Finally, Barclays PLC increased its holdings in PennyMac Financial Services by 505.4% in the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after buying an additional 50,238 shares during the period. 57.87% of the stock is owned by institutional investors.

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.