PennyMac Financial Services, Inc. (PFSI) To Go Ex-Dividend on August 13th (2024)

Posted by Defense World Staff on Jul 25th, 2024

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) announced a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Shareholders of record on Tuesday, August 13th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, August 23rd. This represents a $1.20 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, August 13th. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20.

PennyMac Financial Services has increased 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. Research analysts expect PennyMac Financial Services to earn $12.53 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 6.4%.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $96.64 on Thursday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $4.92 billion, a PE ratio of 33.56, a P/E/G ratio of 0.65 and a beta of 1.72. The business has a 50-day simple moving average of $93.60 and a two-hundred day simple moving average of $90.10. PennyMac Financial Services has a fifty-two week low of $62.15 and a fifty-two week high of $105.94.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The business 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 12.78% 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 period in the prior year, the business posted $1.11 EPS. As a group, equities analysts expect that PennyMac Financial Services will post 10.55 EPS for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the transaction, the director now directly owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the completion of the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at $20,308,804.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the sale, the director now owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,865 shares of company stock valued at $8,045,169. 16.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PFSI shares. Piper Sandler raised their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a report on Monday. Wedbush lifted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Hold” and a consensus price target of $107.17.

Get Our Latest Analysis on PennyMac Financial Services

PennyMac Financial Services Company Profile

(Get Free Report)

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.