Todays Report: The 10,000 Shares of Stock are sold by PennyMac Financial Services Inc. (PFSI) Insider David M. Walker

The 10,000 Shares of Stock are sold by PennyMac Financial Services Inc. (PFSI) Insider David M. Walker

PennyMac Financial Services Inc. (NYSE:PFSI) insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $16.34, for a total transaction of $163,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

PennyMac Financial Services Inc. (NYSE:PFSI) opened at 16.23 on Thursday. The stock has a 50 day moving average of $16.82 and a 200 day moving average of $14.13. PennyMac Financial Services Inc. has a 1-year low of $10.48 and a 1-year high of $18.13. The stock has a market cap of $360.19 million, a P/E ratio of 7.90 and a beta of 0.58.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. PennyMac Financial Services had a net margin of 6.20% and a return on equity of 4.30%. The firm earned $207.81 million during the quarter, compared to analyst estimates of $196.53 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts anticipate that PennyMac Financial Services Inc. will post $2.47 EPS for the current fiscal year.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, July 15th. Citigroup Inc. raised their price objective on shares of PennyMac Financial Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Piper Jaffray Cos. restated an “overweight” rating and set a $20.00 price objective on shares of PennyMac Financial Services in a report on Friday, September 9th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of PennyMac Financial Services and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PennyMac Financial Services from $14.00 to $16.50 and gave the stock a “neutral” rating in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.94.

Several large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY purchased a new stake in PennyMac Financial Services during the second quarter valued at about $139,000. SG Americas Securities LLC purchased a new stake in PennyMac Financial Services during the second quarter valued at about $161,000. Societe Generale purchased a new stake in PennyMac Financial Services during the second quarter valued at about $161,000. Teachers Advisors Inc. raised its stake in PennyMac Financial Services by 7.7% in the second quarter. Teachers Advisors Inc. now owns 20,232 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 1,447 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in PennyMac Financial Services by 17.4% in the second quarter. Parametric Portfolio Associates LLC now owns 20,649 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 3,053 shares in the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

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