Vanguard Group Inc. Acquires 12,782 Shares of PennyMac Financial Services, Inc. $PFSI

Vanguard Group Inc. boosted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,832,737 shares of the real estate investment trust’s stock after buying an additional 12,782 shares during the quarter. Vanguard Group Inc. owned approximately 0.05% of PennyMac Financial Services worth $373,468,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp bought a new stake in PennyMac Financial Services during the 4th quarter valued at $5,095,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PennyMac Financial Services in the 4th quarter worth $242,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PennyMac Financial Services by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,345 shares of the real estate investment trust’s stock worth $1,364,000 after purchasing an additional 372 shares during the last quarter. CWM LLC lifted its stake in shares of PennyMac Financial Services by 35.7% during the 4th quarter. CWM LLC now owns 753 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 198 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in PennyMac Financial Services by 110.3% during the fourth quarter. SG Americas Securities LLC now owns 7,602 shares of the real estate investment trust’s stock valued at $1,002,000 after purchasing an additional 3,988 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Down 0.5%

PennyMac Financial Services stock opened at $87.01 on Thursday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $4.54 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.50 and a beta of 1.49. The stock has a 50-day moving average of $89.19 and a two-hundred day moving average of $113.48. PennyMac Financial Services, Inc. has a one year low of $82.65 and a one year high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a return on equity of 11.02% and a net margin of 23.47%.PennyMac Financial Services’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 12.05 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, May 18th. PennyMac Financial Services’s payout ratio is currently 12.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PFSI shares. Weiss Ratings downgraded shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research report on Monday, March 16th. Wall Street Zen cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Wells Fargo & Company lowered their target price on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $124.75.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 2,925 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $93.30, for a total value of $272,902.50. Following the completion of the transaction, the chief financial officer owned 213,550 shares of the company’s stock, valued at approximately $19,924,215. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Spector sold 12,436 shares of PennyMac Financial Services stock in a transaction on Friday, March 6th. The stock was sold at an average price of $86.39, for a total transaction of $1,074,346.04. Following the sale, the chief executive officer owned 529,401 shares of the company’s stock, valued at $45,734,952.39. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 51,280 shares of company stock worth $4,630,853. 15.80% of the stock is owned by company insiders.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.