PennyMac Financial Services (NYSE:PFSI) Releases Earnings Results, Misses Estimates By $1.62 EPS

PennyMac Financial Services (NYSE:PFSI - Get Free Report) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62), Briefing.com reports. The firm had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. PennyMac Financial Services's revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS.

PennyMac Financial Services Stock Performance

PFSI stock traded down $3.64 during midday trading on Wednesday, reaching $100.00. 750,363 shares of the company's stock traded hands, compared to its average volume of 256,341. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $119.13. The stock has a market cap of $5.09 billion, a P/E ratio of 34.72, a PEG ratio of 0.67 and a beta of 1.77. The stock's 50-day moving average is $107.66 and its 200 day moving average is $98.09.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.20%. PennyMac Financial Services's dividend payout ratio (DPR) is 41.67%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the sale, the director now owns 105,446 shares of the company's stock, valued at approximately $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the transaction, the chief executive officer now owns 210,604 shares in the company, valued at approximately $20,915,083.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph F. Mazzella sold 11,396 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the transaction, the director now directly owns 105,446 shares of the company's stock, valued at $10,325,272.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,855 shares of company stock worth $9,647,599 in the last 90 days. 16.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of research analyst reports. StockNews.com downgraded PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Wednesday, July 3rd. Wedbush restated an "outperform" rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday. Piper Sandler lifted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research note on Wednesday. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price objective for the company. in a report on Monday, July 22nd. Finally, Barclays raised their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $114.33.

About PennyMac Financial Services

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.