FJ Capital Management LLC Has $3.77 Million Holdings in PennyMac Financial Services, Inc. $PFSI

FJ Capital Management LLC lessened its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 44.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,562 shares of the real estate investment trust’s stock after selling 22,997 shares during the quarter. FJ Capital Management LLC’s holdings in PennyMac Financial Services were worth $3,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFSI. EverSource Wealth Advisors LLC bought a new position in shares of PennyMac Financial Services during the 2nd quarter worth approximately $26,000. Strs Ohio bought a new position in shares of PennyMac Financial Services during the 1st quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings in shares of PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 142 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of PennyMac Financial Services by 131.8% during the 4th quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 286 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the completion of the sale, the chief executive officer owned 60,604 shares of the company’s stock, valued at approximately $5,332,545.96. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock in a transaction on Friday, May 15th. The shares were sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the sale, the chief financial officer directly owned 210,625 shares of the company’s stock, valued at approximately $18,429,687.50. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 22,925 shares of company stock valued at $2,064,138. 15.80% of the stock is currently owned by insiders.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $81.54 on Friday. The company has a fifty day simple moving average of $87.63 and a 200 day simple moving average of $105.73. PennyMac Financial Services, Inc. has a 12-month low of $77.67 and a 12-month high of $160.36. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.63. The company has a market cap of $4.23 billion, a P/E ratio of 8.66, a PEG ratio of 0.53 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business had revenue of $544.98 million during the quarter, compared to analyst estimates of $546.17 million. During the same period in the previous year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 annualized dividend and a yield of 1.5%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PFSI shares. Wells Fargo & Company cut their price target on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Zacks Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Stephens started coverage on PennyMac Financial Services in a report on Friday, April 24th. They set an “equal weight” rating and a $100.00 price target on the stock. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, Barclays cut their price target on PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of “Hold” and a consensus target price of $122.75.

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.