PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $1,049,500.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 10,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00. Following the completion of the transaction, the chief executive officer now owns 170,604 shares of the company's stock, valued at approximately $17,904,889.80. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

David Spector also recently made the following trade(s):

• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.
• On Tuesday, September 17th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $116.79, for a total value of $1,167,900.00.

PennyMac Financial Services Price Performance

Shares of PFSI stock traded up $1.25 during trading hours on Friday, hitting $107.07. 165,676 shares of the company's stock were exchanged, compared to its average volume of 256,307. The stock's 50-day moving average is $105.46 and its 200-day moving average is $101.05. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 52 week low of $79.11 and a 52 week high of $119.13. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 33.62 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the company earned $1.77 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. As a group, research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's dividend payout ratio is currently 38.10%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in shares of PennyMac Financial Services by 115.3% in the 3rd quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust's stock valued at $1,719,000 after buying an additional 8,078 shares during the period. Hohimer Wealth Management LLC bought a new position in PennyMac Financial Services in the third quarter valued at about $236,000. Geode Capital Management LLC boosted its holdings in PennyMac Financial Services by 3.1% in the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust's stock valued at $73,841,000 after acquiring an additional 19,662 shares during the last quarter. Barclays PLC increased its position in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock worth $6,859,000 after purchasing an additional 50,238 shares during the period. Finally, XTX Topco Ltd bought a new stake in PennyMac Financial Services during the 3rd quarter worth about $614,000. Institutional investors and hedge funds own 57.87% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on PFSI shares. Wells Fargo & Company boosted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Piper Sandler increased their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Wedbush reissued an "outperform" rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.86.

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.

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