Doug Jones Sells 7,882 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) Director Doug Jones sold 7,882 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $103.16, for a total transaction of $813,107.12. Following the sale, the director now directly owns 450,000 shares of the company's stock, valued at approximately $46,422,000. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The shares were sold at an average price of $102.04, for a total transaction of $61,224.00.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79.

PennyMac Financial Services Stock Down 0.9 %

Shares of NYSE PFSI traded down $0.90 during trading on Friday, hitting $102.07. The stock had a trading volume of 231,197 shares, compared to its average volume of 258,048. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a fifty day moving average of $103.54 and a two-hundred day moving average of $102.41. PennyMac Financial Services, Inc. has a 12 month low of $81.93 and a 12 month high of $119.13. The company has a market capitalization of $5.23 billion, a PE ratio of 32.40 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data 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). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm had revenue of $411.83 million during the quarter, compared to analysts' expectations of $513.12 million. During the same quarter last year, the business posted $1.77 EPS. The company's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 annualized dividend and a yield of 1.18%. PennyMac Financial Services's dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a report on Tuesday, December 10th. Piper Sandler increased their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Wedbush reaffirmed an "outperform" rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services currently has an average rating of "Moderate Buy" and an average target price of $122.50.

Institutional Investors Weigh In On PennyMac Financial Services

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of PennyMac Financial Services during the 3rd quarter worth approximately $37,000. Blue Trust Inc. grew its holdings in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 262 shares during the period. KBC Group NV increased its position in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock worth $153,000 after buying an additional 226 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock valued at $173,000 after buying an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $203,000. 57.87% of the stock is owned by hedge funds and other 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.