PennyMac Financial Services, Inc. (PFSI) to Issue Quarterly Dividend of $0.20 on May 24th

PennyMac Financial Services, Inc. (NYSE:PFSI) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Tuesday, May 14th will be given a dividend of 0.20 per share by the real estate investment trust on Friday, May 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Monday, May 13th.

PennyMac Financial Services has raised its dividend by an average of 14.0% annually over the last three years. PennyMac Financial Services has a payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PennyMac Financial Services to earn $12.36 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 6.5%.

PennyMac Financial Services Trading Down 6.4 %

NYSE PFSI opened at $86.20 on Friday. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The company has a 50-day moving average of $87.95 and a 200-day moving average of $82.89. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $4.35 billion, a P/E ratio of 29.93, a P/E/G ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. As a group, equities analysts predict that PennyMac Financial Services will post 10.41 earnings per share for the current year.

Insiders Place Their Bets

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the sale, the chief financial officer now directly owns 257,897 shares of the company’s stock, valued at $22,823,884.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the transaction, the chief financial officer now owns 257,897 shares of the company’s stock, valued at $22,823,884.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the transaction, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at approximately $23,591,256.72. The disclosure for this sale can be found here. Insiders have sold 87,802 shares of company stock valued at $7,666,108 over the last three months. Company insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays upped their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $105.00 in a report on Tuesday, April 9th. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.38.

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.