PennyMac Financial Services (NYSE:PFSI) Issues Quarterly Earnings Results, Misses Estimates By $1.57 EPS

PennyMac Financial Services (NYSE:PFSI - Get Free Report) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57), Zacks reports. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%.

PennyMac Financial Services Stock Up 2.5 %

Shares of PFSI stock traded up $2.33 on Tuesday, hitting $96.55. The stock had a trading volume of 645,980 shares, compared to its average volume of 304,859. PennyMac Financial Services has a one year low of $83.03 and a one year high of $119.13. The business has a 50 day moving average price of $99.24 and a 200 day moving average price of $102.57. The company has a market cap of $4.97 billion, a PE ratio of 16.53, a P/E/G ratio of 0.19 and a beta of 1.73. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's payout ratio is 20.55%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. UBS Group decreased their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.86.

Insiders Place Their Bets

In related news, insider James Follette sold 1,983 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now directly owns 10,497 shares of the company's stock, valued at $1,048,965.21. This trade represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the sale, the chief financial officer now owns 214,997 shares of the company's stock, valued at approximately $21,820,045.53. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock worth $4,540,867 in the last three months. Corporate insiders own 16.60% of the company's stock.

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.

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