PennyMac Financial Services, Inc. (NYSE: PFSI) expects quarterly dividend of $0.20


PennyMac Financial Services, Inc. (NYSE: PFSI – Get Rating) announced a quarterly dividend on Thursday, May 5, Zacks reports. Shareholders of record on Tuesday, May 17 will receive a dividend of 0.20 per share from the REIT on Friday, May 27. This represents an annualized dividend of $0.80 and a dividend yield of 1.65%. The ex-dividend date is Monday, May 16.

PennyMac Financial Services has increased its dividend payout by an average of 26.0% per year over the past three years and has increased its dividend every year for the past 2 years. PennyMac Financial Services has a payout ratio of 6.3%, which means its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $13.23 per share next year, meaning the company should continue to be able to cover its $0.80 annual dividend with a ratio expected future payout of 6.0%.

Shares of PFSI opened at $48.41 on Friday. The company has a 50-day moving average price of $52.13 and a 200-day moving average price of $60.60. PennyMac Financial Services has a 12-month low of $45.90 and a 12-month high of $71.52. The company has a market capitalization of $2.68 billion, a price-earnings ratio of 3.88 and a beta of 1.21. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt ratio of 2.79.

PennyMac Financial Services (NYSE: PFSI – Get Rating) last reported results on Thursday, May 5. The real estate investment trust reported earnings per share (EPS) of $2.94 for the quarter, beating analysts’ consensus estimate of $2.88 by $0.06. The company posted revenue of $657.50 million in the quarter, compared to $622.14 million expected by analysts. PennyMac Financial Services posted a return on equity of 30.92% and a net margin of 31.68%. The company’s revenue for the quarter was down 30.4% year over year. In the same quarter of the previous year, the company achieved EPS of $5.15. As a group, research analysts predict that PennyMac Financial Services will post earnings per share of 10.81 for the current year.

In related news, CEO David Spector sold 15,000 shares in a trade dated Wednesday, February 23. The shares were sold at an average price of $57.23, for a total transaction of $858,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Director Mfn Partners, Lp purchased 125,000 shares of the company in a transaction that took place on Wednesday, February 9. The shares were purchased at an average price of $61.44 per share, with a total value of $7,680,000.00. Disclosure of this purchase can be found here. In the past 90 days, insiders have bought 370,982 shares of the company worth $22,353,906 and sold 62,250 shares worth $3,311,027. Company insiders own 12.90% of the company’s shares.

Several hedge funds and other institutional investors have recently changed their PFSI holdings. Allianz Asset Management GmbH increased its equity stake in PennyMac Financial Services by 101.1% in the 4th quarter. Allianz Asset Management GmbH now owns 318,682 shares of the real estate investment trust worth $22,239,000 after purchasing an additional 160,244 shares in the last quarter. Morgan Stanley increased its stake in PennyMac Financial Services by 38.6% during the second quarter. Morgan Stanley now owns 431,227 shares of the real estate investment trust worth $26,615,000 after purchasing an additional 120,117 shares during the period. UBS Group AG increased its stake in PennyMac Financial Services by 169.1% during the third quarter. UBS Group AG now owns 8,044 shares of the real estate investment trust worth $492,000 after purchasing an additional 19,680 shares during the period. The Public Employees Retirement System of Ohio increased its stake in PennyMac Financial Services by 44.5% during the 4th quarter. The Ohio Public Employees Retirement System now owns 40,672 shares of the real estate investment trust worth $2,838,000 after purchasing an additional 12,533 shares during the period. Finally, Virtu Financial LLC acquired a new stake in PennyMac Financial Services during Q4 worth approximately $352,000. 62.61% of the shares are currently held by institutional investors.

A number of brokerages have published reports on PFSI. BTIG Research began covering PennyMac Financial Services in a research report on Wednesday, April 20. They issued a “buy” rating and a target price of $60.00 on the stock. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler cut 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. Barclays cut its price target on PennyMac Financial Services shares from $113.00 to $103.00 and set an “overweight” rating for the company in a Tuesday, April 12 report. Finally, Zacks Investment Research downgraded shares of PennyMac Financial Services from a “held” rating to a “strong sell” rating in a Wednesday, Feb. 9 research note. One research analyst rated the stock with a sell rating, another has issued a hold rating and six have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $83.14.

PennyMac Financial Services Company Profile (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.

Read more

Dividend history for PennyMac Financial Services (NYSE: PFSI)



Get news and reviews for PennyMac Financial Services Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for PennyMac Financial Services and related companies with MarketBeat.com’s free daily email newsletter.

.

Leave a Comment