PennyMac Financial Services (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 26,011 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 26,011 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $131.36, for a total value of $3,416,804.96. Following the completion of the sale, the chief financial officer directly owned 9,964 shares of the company’s stock, valued at $1,308,871.04. This trade represents a 72.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Daniel Stanley Perotti also recently made the following trade(s):

• On Wednesday, October 22nd, Daniel Stanley Perotti sold 13,110 shares of PennyMac Financial Services stock. The stock was sold at an average price of $130.71, for a total value of $1,713,608.10.
• On Friday, September 5th, Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock. The stock was sold at an average price of $116.63, for a total value of $341,142.75.
• On Tuesday, September 2nd, Daniel Stanley Perotti sold 5,850 shares of PennyMac Financial Services stock. The stock was sold at an average price of $108.20, for a total value of $632,970.00.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $130.18 on Wednesday. The stock has a market cap of $6.73 billion, a PE ratio of 14.03 and a beta of 1.59. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.03. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $134.56. The stock has a fifty day simple moving average of $119.53 and a 200-day simple moving average of $105.57.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.39. The business had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $573.46 million. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.The company’s revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, November 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. PennyMac Financial Services’s dividend payout ratio is currently 12.93%.

Analyst Ratings Changes

PFSI has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, September 29th. UBS Group increased their price target on PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Piper Sandler raised their target price on PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, BTIG Research restated a “buy” rating and set a $135.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.67.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Smith Shellnut Wilson LLC ADV purchased a new position in PennyMac Financial Services during the 3rd quarter valued at about $229,000. Forum Financial Management LP acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at about $274,000. SG Americas Securities LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at about $448,000. Longboard Asset Management LP acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at about $213,000. Finally, CWM LLC raised its position in PennyMac Financial Services by 92.7% in the 3rd quarter. CWM LLC now owns 555 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 267 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.