PennyMac Financial Services (NYSE:PFSI) Sets New 12-Month High at $118.76

PennyMac Financial Services, Inc. (NYSE:PFSI)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $118.76 and last traded at $117.48, with a volume of 151325 shares. The stock had previously closed at $116.56.

Analyst Ratings Changes

Several research firms have issued reports on PFSI. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Piper Sandler increased their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. Finally, Wedbush upped their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $107.17.

PennyMac Financial Services Stock Performance

The firm has a market capitalization of $5.83 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The business’s fifty day simple moving average is $102.58 and its 200-day simple moving average is $94.52.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The company had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share. As a group, equities research analysts expect that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a $0.30 dividend. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services’s payout ratio is currently 41.67%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.79, for a total transaction of $1,167,900.00. Following the sale, the chief executive officer now directly owns 200,604 shares of the company’s stock, valued at approximately $23,428,541.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.79, for a total value of $1,167,900.00. Following the completion of the transaction, the chief executive officer now owns 200,604 shares in the company, valued at $23,428,541.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the sale, the director now directly owns 1,854 shares in the company, valued at $191,221.56. The disclosure for this sale can be found here. Insiders sold 79,355 shares of company stock worth $8,306,734 in the last quarter. 16.60% of the stock is owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 413 shares during the period. Hexagon Capital Partners LLC lifted its stake in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares during the last quarter. TFO Wealth Partners LLC boosted its position in shares of PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the period. SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services during the first quarter valued at approximately $202,000. Finally, Virtu Financial LLC purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth approximately $253,000. 57.87% of the stock is currently owned by institutional investors.

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.