Foster & Motley Inc. Buys New Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Foster & Motley Inc. bought a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,652 shares of the real estate investment trust’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PFSI. SG Americas Securities LLC boosted its position in shares of PennyMac Financial Services by 283.2% in the 3rd quarter. SG Americas Securities LLC now owns 10,415 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 7,697 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $57,000. Dakota Wealth Management acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $1,313,000. Bank of New York Mellon Corp boosted its position in shares of PennyMac Financial Services by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 234,486 shares of the real estate investment trust’s stock valued at $15,617,000 after purchasing an additional 7,251 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PennyMac Financial Services by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 944 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Ratings Changes

PFSI has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. Barclays increased their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday. Finally, StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.38.

PennyMac Financial Services Stock Down 6.4 %

PFSI opened at $86.20 on Friday. PennyMac Financial Services, Inc. has a fifty-two week low of $56.16 and a fifty-two week high of $94.78. The business has a 50-day moving average of $87.95 and a 200-day moving average of $82.89. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $4.35 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.41 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s payout ratio is 27.78%.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the transaction, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at approximately $23,591,256.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Doug Jones sold 17,079 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $86.10, for a total value of $1,470,501.90. Following the transaction, the director now directly owns 23,892 shares of the company’s stock, valued at approximately $2,057,101.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the sale, the chief executive officer now directly owns 270,604 shares in the company, valued at approximately $23,591,256.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,802 shares of company stock valued at $7,666,108. Corporate insiders own 17.40% of the company’s stock.

PennyMac Financial Services Profile

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.