PennyMac Financial Services, Inc. (NYSE:PFSI) Shares to Pay Quarterly Dividend of $0.30

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 16th will be paid a dividend of $0.30 per share by the real estate investment trust on Friday, November 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, November 16th.

PennyMac Financial Services has raised its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 1 years. PennyMac Financial Services has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PennyMac Financial Services to earn $10.32 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 11.6%.

PennyMac Financial Services Stock Up 1.7%

Shares of NYSE PFSI opened at $64.50 on Friday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $3.35 billion, a PE ratio of 8.86 and a beta of 1.45. PennyMac Financial Services has a one year low of $57.52 and a one year high of $160.36. The business’s fifty day moving average price is $66.27 and its 200-day moving average price is $85.44.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.22). The firm had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $531.77 million. PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. PennyMac Financial Services’s revenue was down 25.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.37 EPS. On average, equities research analysts anticipate that PennyMac Financial Services will post 6.72 EPS for the current year.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of analyst reports. Wall Street Zen cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Wells Fargo & Company lowered their price objective on PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Stephens dropped their price objective on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Barclays cut their target price on shares of PennyMac Financial Services from $85.00 to $71.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. Finally, Piper Sandler dropped their price target on shares of PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Hold” and a consensus price target of $93.57.

Check Out Our Latest Stock Report on PennyMac Financial Services

PennyMac Financial Services Company Profile

(Get Free Report)

PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.

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Dividend History for PennyMac Financial Services (NYSE:PFSI)

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