PennyMac Financial Services (NYSE:PFSI) Issues Earnings Results

PennyMac Financial Services (NYSE:PFSI - Get Free Report) posted its earnings results on Thursday. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21), Zacks reports. PennyMac Financial Services had a return on equity of 16.80% and a net margin of 19.54%.

PennyMac Financial Services Price Performance

Shares of PFSI stock traded down $2.94 during trading hours on Monday, hitting $101.75. 488,694 shares of the company's stock were exchanged, compared to its average volume of 358,862. PennyMac Financial Services has a 52 week low of $83.03 and a 52 week high of $119.13. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth 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. The stock's 50-day moving average is $104.54 and its 200-day moving average is $104.44.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

Insider Activity

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at $16,457,725.52. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Doug Jones sold 23,229 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $101.51, for a total value of $2,357,975.79. Following the transaction, the director now directly owns 23,892 shares in the company, valued at $2,425,276.92. The trade was a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,844 shares of company stock valued at $15,079,791 in the last 90 days. 16.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wedbush reissued an "outperform" rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price 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 lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 10th. Finally, Piper Sandler dropped their target price 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.17.

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.