PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) CEO David Spector sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $87.99, for a total transaction of $879,900.00. Following the sale, the chief executive officer owned 60,604 shares in the company, valued at $5,332,545.96. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Spector also recently made the following trade(s):
- On Tuesday, April 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $92.83, for a total transaction of $928,300.00.
- On Friday, March 6th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.39, for a total transaction of $863,900.00.
- On Friday, March 6th, David Spector sold 12,436 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.39, for a total transaction of $1,074,346.04.
- On Thursday, February 19th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $94.50, for a total transaction of $945,000.00.
- On Thursday, February 19th, David Spector sold 2,950 shares of PennyMac Financial Services stock. The stock was sold at an average price of $94.52, for a total transaction of $278,834.00.
PennyMac Financial Services Trading Down 0.9%
Shares of PennyMac Financial Services stock opened at $87.83 on Thursday. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.58 and a beta of 1.49. The company has a quick ratio of 0.34, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. PennyMac Financial Services, Inc. has a 12-month low of $82.65 and a 12-month high of $160.36. The firm’s 50-day moving average price is $88.88 and its two-hundred day moving average price is $112.24.
PennyMac Financial Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. PennyMac Financial Services’s dividend payout ratio is 12.75%.
Analyst Ratings Changes
A number of research firms have recently commented on PFSI. Wells Fargo & Company dropped their target price on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Finally, Barclays dropped their target price on shares of PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating for the company in a report on Monday. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Hold” and a consensus target price of $122.75.
Get Our Latest Analysis on PennyMac Financial Services
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in PFSI. 140 Summer Partners LP bought a new position in PennyMac Financial Services in the 3rd quarter valued at approximately $55,268,000. Norges Bank bought a new position in PennyMac Financial Services in the 4th quarter valued at approximately $44,287,000. Two Sigma Investments LP raised its holdings in PennyMac Financial Services by 1,148.7% in the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock valued at $38,517,000 after buying an additional 286,019 shares during the last quarter. Holocene Advisors LP raised its holdings in PennyMac Financial Services by 2,379.5% in the 3rd quarter. Holocene Advisors LP now owns 245,268 shares of the real estate investment trust’s stock valued at $30,384,000 after buying an additional 235,376 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in PennyMac Financial Services by 18.3% in the 3rd quarter. Invesco Ltd. now owns 1,463,096 shares of the real estate investment trust’s stock valued at $181,248,000 after buying an additional 226,581 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.
PennyMac Financial Services Company Profile
PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.
Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.
Read More
- Five stocks we like better than PennyMac Financial Services
- Oklo Stock Could Be Ready for Another Massive Run
- D-Wave Earnings Looked Weak, But Investors May Be Missing This
- Nebius Upside Expands as AI Feedback Loop Intensifies
- Insider Trades: Okta and Abbott See Buys, Micron Insiders Sell
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.
