PennyMac Financial Services Inc (NYSE:PFSI) insider Jeffrey Grogin sold 8,628 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $32.12, for a total transaction of $277,131.36. The sale was disclosed in a filing with the SEC, which is available at this link.
PFSI traded up $1.63 during trading on Tuesday, hitting $33.78. The company’s stock had a trading volume of 787,050 shares, compared to its average volume of 316,596. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 2.18. PennyMac Financial Services Inc has a twelve month low of $19.28 and a twelve month high of $34.05. The business’s fifty day simple moving average is $31.40 and its 200 day simple moving average is $26.58. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 0.72 and a beta of 0.36.
PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.51 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.26. PennyMac Financial Services had a return on equity of 15.84% and a net margin of 22.54%. The firm had revenue of $436.35 million for the quarter, compared to the consensus estimate of $368.20 million. As a group, equities research analysts forecast that PennyMac Financial Services Inc will post 4.43 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 14th. PennyMac Financial Services’s payout ratio is presently 18.53%.
Several hedge funds and other institutional investors have recently modified their holdings of PFSI. First Trust Advisors LP grew its stake in shares of PennyMac Financial Services by 2.6% in the first quarter. First Trust Advisors LP now owns 111,812 shares of the real estate investment trust’s stock valued at $2,487,000 after buying an additional 2,862 shares in the last quarter. Denali Advisors LLC acquired a new position in PennyMac Financial Services during the 2nd quarter worth $195,000. Bessemer Group Inc. grew its stake in PennyMac Financial Services by 33.6% during the 2nd quarter. Bessemer Group Inc. now owns 13,109 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 3,299 shares in the last quarter. Strs Ohio grew its stake in PennyMac Financial Services by 5.6% during the 2nd quarter. Strs Ohio now owns 30,100 shares of the real estate investment trust’s stock worth $667,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Bayview Asset Management LLC grew its stake in PennyMac Financial Services by 26.1% during the 2nd quarter. Bayview Asset Management LLC now owns 459,920 shares of the real estate investment trust’s stock worth $10,201,000 after purchasing an additional 95,246 shares in the last quarter. 51.49% of the stock is owned by institutional investors and hedge funds.
PFSI has been the topic of a number of recent research reports. Barclays reiterated a “buy” rating and set a $37.00 price target on shares of PennyMac Financial Services in a research report on Friday, October 25th. Wells Fargo & Co upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, September 5th. Piper Jaffray Companies restated an “overweight” rating and issued a $44.00 target price (up previously from $42.00) on shares of PennyMac Financial Services in a report on Tuesday. ValuEngine cut PennyMac Financial Services from a “sell” rating to a “strong sell” rating in a report on Friday, November 8th. Finally, TheStreet raised PennyMac Financial Services from a “c+” rating to a “b+” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $34.20.
About PennyMac Financial Services
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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