PennyMac Financial Services, Inc. (NYSE:PFSI) Insider David M. Walker Sells 10,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

David M. Walker also recently made the following trade(s):

  • On Wednesday, November 4th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $55.60, for a total transaction of $556,000.00.
  • On Thursday, October 22nd, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $56.67, for a total transaction of $566,700.00.
  • On Thursday, October 8th, David M. Walker sold 20,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $60.17, for a total transaction of $1,203,400.00.
  • On Friday, September 18th, David M. Walker sold 20,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $58.21, for a total transaction of $1,164,200.00.
  • On Tuesday, September 1st, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $52.89, for a total transaction of $528,900.00.

Shares of PennyMac Financial Services stock opened at $56.12 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $4.07 billion, a PE ratio of 4.88 and a beta of 1.14. PennyMac Financial Services, Inc. has a 52-week low of $13.14 and a 52-week high of $67.77. The company has a 50-day simple moving average of $58.25 and a two-hundred day simple moving average of $47.19.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $7.03 EPS for the quarter, topping analysts’ consensus estimates of $5.92 by $1.11. PennyMac Financial Services had a net margin of 37.77% and a return on equity of 42.33%. The firm had revenue of $855.30 million during the quarter, compared to analyst estimates of $928.98 million. PennyMac Financial Services’s quarterly revenue was up 262.9% compared to the same quarter last year. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 17.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. PennyMac Financial Services’s dividend payout ratio is presently 12.27%.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in PennyMac Financial Services by 22.6% during the second quarter. Vanguard Group Inc. now owns 3,971,743 shares of the real estate investment trust’s stock valued at $165,979,000 after buying an additional 732,147 shares during the period. State Street Corp raised its stake in shares of PennyMac Financial Services by 31.9% in the third quarter. State Street Corp now owns 1,297,032 shares of the real estate investment trust’s stock valued at $75,383,000 after acquiring an additional 313,878 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of PennyMac Financial Services by 77.6% in the second quarter. Goldman Sachs Group Inc. now owns 923,117 shares of the real estate investment trust’s stock valued at $38,577,000 after acquiring an additional 403,310 shares during the period. Nuveen Asset Management LLC raised its stake in shares of PennyMac Financial Services by 36.1% in the second quarter. Nuveen Asset Management LLC now owns 527,441 shares of the real estate investment trust’s stock valued at $22,042,000 after acquiring an additional 139,899 shares during the period. Finally, Boston Partners raised its stake in shares of PennyMac Financial Services by 148.9% in the third quarter. Boston Partners now owns 449,731 shares of the real estate investment trust’s stock valued at $26,139,000 after acquiring an additional 269,019 shares during the period. Hedge funds and other institutional investors own 53.11% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of PennyMac Financial Services from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, November 10th. They noted that the move was a valuation call. Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Credit Suisse Group lifted their price target on shares of PennyMac Financial Services from $67.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, November 9th. They noted that the move was a valuation call. Zacks Investment Research cut shares of PennyMac Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Piper Sandler lifted their price target on shares of PennyMac Financial Services from $79.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. PennyMac Financial Services presently has a consensus rating of “Buy” and an average target price of $64.63.

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.

Featured Story: What is the Moving Average Convergence Divergence (MACD) oscillator?

Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.