Sterling Capital Management LLC Acquires 343 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Sterling Capital Management LLC increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 601.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 400 shares of the real estate investment trust’s stock after buying an additional 343 shares during the quarter. Sterling Capital Management LLC’s holdings in PennyMac Financial Services were worth $41,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in shares of PennyMac Financial Services by 54.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 389 shares during the period. KBC Group NV grew its holdings in shares of PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 209 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at $217,000. Cibc World Markets Corp acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at $255,000. Finally, Precision Wealth Strategies LLC acquired a new position in PennyMac Financial Services during the 4th quarter worth about $367,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $95.08 on Friday. The company’s 50 day moving average price is $98.86 and its two-hundred day moving average price is $102.39. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a market capitalization of $4.89 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same period in the prior year, the business earned $0.74 EPS. On average, analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. PennyMac Financial Services’s dividend payout ratio is 20.55%.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday. UBS Group dropped their target price on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Piper Sandler decreased their price target on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Tuesday, April 8th. One research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.86.

Insider Transactions at PennyMac Financial Services

In related news, insider Mark Elbaum sold 410 shares of PennyMac Financial Services stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $102.88, for a total transaction of $42,180.80. Following the completion of the transaction, the insider now owns 4,207 shares in the company, valued at approximately $432,816.16. This trade represents a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Follette sold 1,983 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the sale, the insider now directly owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. The trade was a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock worth $4,540,867 in the last 90 days. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Company 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.