PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $987,750.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Stanford L. Kurland sold 15,000 shares of the business’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $65.85, for a total transaction of $987,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Stanford L. Kurland also recently made the following trade(s):

  • On Thursday, October 15th, Stanford L. Kurland sold 31,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $66.24, for a total transaction of $2,053,440.00.
  • On Thursday, September 24th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $55.49, for a total transaction of $832,350.00.
  • On Monday, September 28th, Stanford L. Kurland sold 31,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $55.73, for a total transaction of $1,727,630.00.
  • On Friday, September 11th, Stanford L. Kurland sold 1,200 shares of PennyMac Financial Services stock. The stock was sold at an average price of $52.98, for a total transaction of $63,576.00.
  • On Wednesday, September 9th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $52.71, for a total transaction of $790,650.00.
  • On Monday, August 10th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $52.15, for a total transaction of $782,250.00.
  • On Wednesday, August 12th, Stanford L. Kurland sold 45,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $52.54, for a total transaction of $2,364,300.00.
  • On Friday, July 31st, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $47.71, for a total transaction of $715,650.00.
  • On Wednesday, July 29th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $46.57, for a total transaction of $698,550.00.

Shares of PFSI opened at $65.98 on Friday. The firm has a market capitalization of $4.78 billion, a P/E ratio of 5.73 and a beta of 1.22. PennyMac Financial Services, Inc. has a 12-month low of $13.14 and a 12-month high of $67.77. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.74. The firm has a fifty day moving average price of $57.14 and a 200-day moving average price of $41.63.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $4.39 EPS for the quarter, topping the Zacks’ consensus estimate of $3.04 by $1.35. PennyMac Financial Services had a net margin of 37.77% and a return on equity of 42.33%. The business had revenue of $821.63 million during the quarter, compared to the consensus estimate of $621.75 million. The firm’s quarterly revenue was up 171.2% compared to the same quarter last year. Analysts predict that PennyMac Financial Services, Inc. will post 16.52 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in PennyMac Financial Services by 22.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,971,743 shares of the real estate investment trust’s stock worth $165,979,000 after purchasing an additional 732,147 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of PennyMac Financial Services during the 1st quarter valued at approximately $22,858,000. Goldman Sachs Group Inc. lifted its position in shares of PennyMac Financial Services by 77.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 923,117 shares of the real estate investment trust’s stock valued at $38,577,000 after buying an additional 403,310 shares in the last quarter. Nuveen Asset Management LLC raised its stake in PennyMac Financial Services by 36.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 527,441 shares of the real estate investment trust’s stock valued at $22,042,000 after purchasing an additional 139,899 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in PennyMac Financial Services by 4.3% in the 1st quarter. Geode Capital Management LLC now owns 486,053 shares of the real estate investment trust’s stock valued at $10,746,000 after purchasing an additional 20,165 shares during the last quarter. Hedge funds and other institutional investors own 53.11% of the company’s stock.

Several equities research analysts have weighed in on the stock. JMP Securities increased their price target on shares of PennyMac Financial Services from $40.00 to $65.00 in a research report on Friday, August 28th. Wells Fargo & Company increased their price target on shares of PennyMac Financial Services from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 16th. Credit Suisse Group increased their price target on shares of PennyMac Financial Services from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, September 18th. Barclays raised their price objective on shares of PennyMac Financial Services from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Finally, Zacks Investment Research lowered shares of PennyMac Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $59.11.

PennyMac Financial Services Company Profile

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

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Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

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