Parkside Financial Bank & Trust Purchases New Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Parkside Financial Bank & Trust acquired a new position in PennyMac Financial Services, Inc. (NYSE:PFSI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 410 shares of the real estate investment trust’s stock, valued at approximately $36,000.

Other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $57,000. Saxon Interests Inc. bought a new stake in shares of PennyMac Financial Services during the 4th quarter valued at $208,000. Foster & Motley Inc. bought a new stake in shares of PennyMac Financial Services during the 4th quarter valued at $234,000. Contravisory Investment Management Inc. bought a new position in PennyMac Financial Services in the 4th quarter worth about $252,000. Finally, Handelsinvest Investeringsforvaltning bought a new position in PennyMac Financial Services in the 4th quarter worth about $285,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 0.9 %

Shares of PFSI stock opened at $87.01 on Friday. The business has a 50-day moving average price of $87.83 and a two-hundred day moving average price of $83.05. PennyMac Financial Services, Inc. has a 12-month low of $56.16 and a 12-month high of $94.78. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. The firm has a market cap of $4.39 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The business had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.58 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, May 13th. PennyMac Financial Services’s payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PFSI shares. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday. Barclays lifted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Wedbush restated an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average price target of $97.75.

Insiders Place Their Bets

In other news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now owns 7,257 shares in the company, valued at $625,843.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares of the company’s stock, valued at $625,843.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, 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 sold 87,802 shares of company stock valued at $7,666,108 over the last three months. Insiders own 17.40% of the company’s stock.

About PennyMac Financial Services

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.