PennyMac Financial Services, Inc. (PFSI) To Go Ex-Dividend on February 12th

PennyMac Financial Services, Inc. (NYSE:PFSIGet Free Report) announced a quarterly dividend on Thursday, February 1st, NASDAQ reports. Investors of record on Tuesday, February 13th will be paid a dividend of 0.20 per share by the real estate investment trust on Friday, February 23rd. This represents a $0.80 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, February 12th.

PennyMac Financial Services has raised its dividend payment by an average of 14.0% per year over the last three years. PennyMac Financial Services has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PennyMac Financial Services to earn $11.35 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 7.0%.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI opened at $93.24 on Friday. The firm has a fifty day simple moving average of $85.57 and a two-hundred day simple moving average of $76.12. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $4.66 billion, a P/E ratio of 34.41, a PEG ratio of 0.65 and a beta of 1.70. PennyMac Financial Services has a 52 week low of $54.00 and a 52 week high of $94.78.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.01 by $0.75. PennyMac Financial Services had a return on equity of 7.71% and a net margin of 10.32%. The company had revenue of $361.94 million during the quarter, compared to analyst estimates of $413.35 million. On average, analysts expect that PennyMac Financial Services will post 9.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $84.43, for a total value of $1,266,450.00. Following the transaction, the chief executive officer now directly owns 285,604 shares in the company, valued at approximately $24,113,545.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $84.43, for a total value of $1,266,450.00. Following the sale, the chief executive officer now directly owns 285,604 shares in the company, valued at approximately $24,113,545.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Follette sold 21,742 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $80.42, for a total transaction of $1,748,491.64. Following the completion of the transaction, the insider now directly owns 11,976 shares in the company, valued at approximately $963,109.92. The disclosure for this sale can be found here. Insiders sold a total of 251,301 shares of company stock worth $20,247,015 over the last 90 days. Company insiders own 17.40% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in PFSI. Acadian Asset Management LLC acquired a new position in PennyMac Financial Services during the 1st quarter valued at about $519,000. MetLife Investment Management LLC increased its holdings in shares of PennyMac Financial Services by 39.6% during the first quarter. MetLife Investment Management LLC now owns 15,934 shares of the real estate investment trust’s stock valued at $848,000 after acquiring an additional 4,522 shares in the last quarter. LSV Asset Management raised its position in shares of PennyMac Financial Services by 12.3% in the 1st quarter. LSV Asset Management now owns 53,212 shares of the real estate investment trust’s stock valued at $2,831,000 after purchasing an additional 5,846 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in PennyMac Financial Services by 93.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 783,884 shares of the real estate investment trust’s stock worth $41,703,000 after purchasing an additional 379,161 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in PennyMac Financial Services by 19.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 59.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PFSI shares. Barclays began coverage on PennyMac Financial Services in a research report on Wednesday, November 15th. They set an “overweight” rating and a $82.00 target price on the stock. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 10th. TheStreet downgraded shares of PennyMac Financial Services from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Financial Services in a research note on Wednesday, January 10th. They set a “buy” rating and a $115.00 target price on the stock. Finally, Piper Sandler raised their price target on PennyMac Financial Services from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $92.25.

Read Our Latest Stock Analysis on PennyMac Financial Services

PennyMac Financial Services Company Profile

(Get Free Report)

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: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

See Also

Dividend History for PennyMac Financial Services (NYSE:PFSI)

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