David M. Walker Sells 10,000 Shares of PennyMac Financial Services Inc (PFSI) Stock

PennyMac Financial Services Inc (NYSE:PFSI) insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $16.66, for a total transaction of $166,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PennyMac Financial Services Inc (NYSE:PFSI) opened at 16.10 on Monday. PennyMac Financial Services Inc has a 52-week low of $10.96 and a 52-week high of $19.35. The firm’s 50-day moving average is $17.88 and its 200-day moving average is $17.18. The company has a market capitalization of $366.08 million, a PE ratio of 5.47 and a beta of 0.56.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, February 2nd. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.18. PennyMac Financial Services had a return on equity of 5.54% and a net margin of 7.09%. The firm had revenue of $289.30 million for the quarter, compared to analyst estimates of $248.26 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The company’s revenue was up 54.5% compared to the same quarter last year. On average, equities research analysts forecast that PennyMac Financial Services Inc will post $2.97 EPS for the current year.

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

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Institutional investors have recently modified their holdings of the stock. Basswood Capital Management L.L.C. raised its position in shares of PennyMac Financial Services by 139.6% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,104,412 shares of the real estate investment trust’s stock worth $18,388,000 after buying an additional 643,445 shares during the last quarter. New Amsterdam Partners LLC NY purchased a new position in shares of PennyMac Financial Services during the third quarter worth $4,479,000. Renaissance Technologies LLC raised its position in shares of PennyMac Financial Services by 95.2% in the fourth quarter. Renaissance Technologies LLC now owns 477,700 shares of the real estate investment trust’s stock worth $7,954,000 after buying an additional 233,000 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of PennyMac Financial Services during the fourth quarter worth $3,155,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of PennyMac Financial Services during the third quarter worth $1,919,000. 91.70% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on PFSI. Zacks Investment Research cut shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, December 23rd. Instinet raised their target price on shares of PennyMac Financial Services from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Bank of America Corp cut shares of PennyMac Financial Services from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Thursday, December 15th. Compass Point raised shares of PennyMac Financial Services from a “neutral” rating to a “buy” rating in a research note on Monday, February 6th. Finally, JMP Securities cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.06.

About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. It operates through three segments: loan production, loan servicing and investment management.

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