PennyMac Financial Services (PFSI) to Release Quarterly Earnings on Tuesday

PennyMac Financial Services (NYSE:PFSI) is set to announce its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.92 per share for the quarter.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. On average, analysts expect PennyMac Financial Services to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

PennyMac Financial Services Stock Performance

Shares of PFSI stock traded up $1.71 on Wednesday, hitting $110.66. 8,508 shares of the stock traded hands, compared to its average volume of 252,719. The company has a market capitalization of $5.64 billion, a PE ratio of 38.21, a PEG ratio of 0.66 and a beta of 1.77. The company’s fifty day moving average is $106.47 and its 200 day moving average is $97.41. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $119.13.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a $0.30 dividend. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PFSI shares. Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush boosted their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research report on Monday, July 22nd. Finally, Piper Sandler raised their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of “Hold” and an average price target of $111.50.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the transaction, the chief executive officer now owns 190,604 shares in the company, valued at approximately $20,503,272.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the sale, the chief executive officer now directly owns 190,604 shares in the company, valued at $20,503,272.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the transaction, the director now owns 105,446 shares of the company’s stock, valued at $10,325,272.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock worth $9,647,599 in the last three months. 16.60% of the stock is owned by company insiders.

About PennyMac Financial Services

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.