PennyMac Financial Services, Inc. (NYSE: PFSI – Get Rating) Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services in a trade that took place on Thursday, May 26. The stock was sold at an average price of $50.12, for a total transaction of $651,560.00. Following the sale, the administrator now owns 351,331 shares of the company, valued at $17,608,709.72. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website.
Shares of NYSE:PFSI traded down $1.25 during midday trading on Tuesday, hitting $49.02. The company had a trading volume of 473,284 shares, compared to an average volume of 681,929. The company has a fifty-day moving average price of $49.34 and a 200-day moving average price of $58.54 . The company has a market capitalization of $2.72 billion, a PE ratio of 3.93 and a beta of 1.21. The company has a debt ratio of 1.63, a current ratio of 0.31 and a quick ratio of 0.31. PennyMac Financial Services, Inc. has a one-year low of $44.25 and a one-year high of $71.52.
PennyMac Financial Services (NYSE:PFSI – Get Rating) last released quarterly earnings data on Thursday, May 5. The real estate investment trust reported earnings per share of $2.94 for the quarter, beating the consensus estimate of $2.88 by $0.06. PennyMac Financial Services posted a net margin of 27.78% and a return on equity of 25.12%. The company posted revenue of $657.50 million in the quarter, compared to analyst estimates of $622.14 million. In the same quarter a year earlier, the company posted EPS of $5.15. PennyMac Financial Services revenue for the quarter decreased 30.4% from the same quarter last year. Research analysts expect PennyMac Financial Services, Inc. to post earnings per share of 8.68 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Investors of record on Tuesday, May 17 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a yield of 1.63%. The ex-dividend date was Monday, May 16. PennyMac Financial Services’ payout ratio is currently 6.42%.
PFSI has been the subject of several analyst reports. Credit Suisse Group lowered its price target on PennyMac Financial Services shares to $66.00 and set a “neutral” rating for the company in a Thursday, May 19 report. Barclays lowered its price target on PennyMac Financial Services shares from $103.00 to $90.00 in a Monday, May 9 report. Piper Sandler lowered her price target on PennyMac Financial Services shares from $117.00 to $98.00 and set an “overweight” rating for the company in a Tuesday, April 5 report. BTIG Research launched coverage on PennyMac Financial Services shares in a report on Wednesday, April 20. They set a “buy” rating and a price target of $60.00 for the company. Finally, StockNews.com upgraded PennyMac Financial Services shares from a “sell” rating to a “hold” rating in a Thursday, May 19 report. One financial analyst gave the stock a sell rating, two gave the stock a hold rating and five gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $77.29.
A number of hedge funds and other institutional investors have been buying and selling stocks recently. Neuberger Berman Group LLC increased its position in PennyMac Financial Services by 13.7% in Q1. Neuberger Berman Group LLC now owns 3,914 shares of the real estate investment trust valued at $208,000 after purchasing an additional 472 shares during the period. Advisors Asset Management Inc. bought a new position in PennyMac Financial Services during Q1 worth $168,000. Quantbot Technologies LP bought a new position in PennyMac Financial Services during Q1 worth $281,000. Goldman Sachs Group Inc. increased its holdings of PennyMac Financial Services shares by 322.3% in Q1. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust worth $37,610,000 after buying an additional 539,539 shares in the last quarter. Finally, Graham Capital Management LP increased its stake in shares of PennyMac Financial Services by 157.2% in the 1st quarter. Graham Capital Management LP now owns 13,004 shares of the real estate investment trust worth $691,000 after buying 7,948 additional shares in the last quarter. 62.61% of the shares are held by institutional investors and hedge funds.
About PennyMac Financial Services (Get a rating)
PennyMac Financial Services, Inc, through its subsidiaries, is engaged in the mortgage banking and investment management business in the United States. It operates through three segments: production, maintenance and investment management. The Production segment is involved in the origination, acquisition and sale of loans.
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