PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Holdings Lowered by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 50.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 953 shares of the real estate investment trust’s stock after selling 963 shares during the period. CIBC Private Wealth Group LLC’s holdings in PennyMac Financial Services were worth $95,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in shares of PennyMac Financial Services by 54.7% in the fourth 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 PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 209 shares in the last quarter. Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at approximately $203,000. Hohimer Wealth Management LLC bought a new stake in PennyMac Financial Services during the 3rd quarter valued at $236,000. Finally, Cibc World Markets Corp acquired a new position in PennyMac Financial Services during the 4th quarter worth $255,000. 57.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler lowered their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $122.67.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $92.05 on Wednesday. The firm has a 50-day moving average of $101.17 and a two-hundred day moving average of $103.74. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.19 and a beta of 1.73. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, 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 was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.30%. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Insiders Place Their Bets

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares of the company’s stock, valued at approximately $21,820,045.53. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Follette sold 1,983 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,464 shares of company stock worth $4,540,867. Company 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.