PennyMac Financial Services, Inc. (NYSE:PFSI) Announces $0.30 Quarterly Dividend

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be paid a dividend of 0.30 per share by the real estate investment trust on Sunday, February 23rd. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, February 13th.

PennyMac Financial Services has raised its dividend payment by an average of 7.7% per year over the last three years. PennyMac Financial Services has a payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $16.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.4%.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI traded up $3.33 during midday trading on Tuesday, hitting $104.96. The company had a trading volume of 522,112 shares, compared to its average volume of 366,270. PennyMac Financial Services has a 12-month low of $83.03 and a 12-month high of $119.13. The company has a fifty day moving average of $104.51 and a two-hundred day moving average of $104.46. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.20 and a beta of 1.78. 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 (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. On average, equities research analysts expect that PennyMac Financial Services will post 14.02 EPS for the current fiscal year.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the completion of the sale, the chief executive officer now owns 180,604 shares of the company's stock, valued at approximately $18,970,644.16. The trade was a 5.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the sale, the chief accounting officer now directly owns 48,040 shares of the company's stock, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,844 shares of company stock valued at $15,079,791. Corporate insiders own 16.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays lifted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Wedbush reaffirmed an "outperform" rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price 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. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research note on Tuesday, December 10th. Finally, Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.17.

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.