PennyMac Financial Services, Inc. Declares Quarterly Dividend of $0.20 (NYSE: PFSI)
PennyMac Financial Services, Inc. (NYSE: PFSI) announced a quarterly dividend on Thursday, Feb. 3, Zacks reports. Shareholders of record on Tuesday, February 15 will receive a dividend of 0.20 per share from the REIT on Friday, February 25. This represents an annualized dividend of $0.80 and a yield of 1.35%. The ex-date of this dividend is Monday, February 14.
PennyMac Financial Services has a payout ratio of 5.5%, which means its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $13.06 per share next year, meaning the company should continue to be able to cover its $0.80 annual dividend with a ratio expected future payout of 6.1%.
NYSE: PFSI opened at $59.20 on Friday. PennyMac Financial Services has a 12 month minimum of $55.11 and a 12 month maximum of $71.52. The stock has a 50-day moving average of $67.01 and a 200-day moving average of $65.38. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt ratio of 2.64. The company has a market capitalization of $3.49 billion, a P/E ratio of 3.31 and a beta of 1.21.
PennyMac Financial Services (NYSE:PFSI) last released quarterly earnings data on Thursday, February 3. The REIT reported EPS of $2.79 for the quarter, missing Thomson Reuters consensus estimate of $3.39 per ($0.60). PennyMac Financial Services posted a return on equity of 36.99% and a net margin of 36.50%. During the same period of the previous year, the company achieved EPS of $5.97. On average, research analysts expect PennyMac Financial Services to post earnings per share of 20.36 for the current year.
In related news, CEO David Spector sold 15,000 shares in a trade that took place on Thursday, November 18. The stock was sold at an average price of $62.28, for a total value of $934,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, Director Farhad Nanji acquired 125,321 shares in a transaction that took place on Monday, November 22. The shares were acquired at an average price of $64.78 per share, with a total value of $8,118,294.38. Disclosure of this purchase can be found here. During the last quarter, insiders bought 412,554 shares of the company worth $26,628,876 and sold 45,000 shares worth $3,015,300. Company insiders own 12.90% of the company’s shares.
A hedge fund recently increased its stake in shares of PennyMac Financial Services. UBS Group AG increased its position in shares of PennyMac Financial Services, Inc. (NYSE: PFSI) by 169.1% during the third quarter, according to its most recent Form 13F filed with the Securities & Exchange Commission. The institutional investor held 8,044 shares of the REIT after purchasing an additional 19,680 shares during the period. UBS Group AG’s holdings in PennyMac Financial Services were worth $492,000 when it last filed with the SEC. 61.64% of the shares are held by hedge funds and other institutional investors.
Several research companies have commented on PFSI. Zacks Investment Research upgraded PennyMac Financial Services from a “sell” to a “hold” rating in a Wednesday, January 12 research note. Barclays raised its price target on PennyMac Financial Services from $103.00 to $113.00 in a Monday, January 10 research report. Three equity research analysts gave the stock a hold rating and five gave the stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $85.75.
About PennyMac Financial Services
PennyMac Financial Services, Inc operates as a holding company. The company is involved in the origination and servicing of residential mortgage loans in the United States. It operates through the following segments: Production, Maintenance and Investment Management. The Production segment includes the business of origination, acquisition and sale of mortgage loans.
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