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 an evaluation)
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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