327 Shares in PennyMac Financial Services, Inc. (NYSE:PFSI) Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 327 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Several other large investors have also recently added to or reduced their stakes in PFSI. Edgestream Partners L.P. lifted its position in PennyMac Financial Services by 256.9% during the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after buying an additional 61,087 shares during the period. American Century Companies Inc. raised its holdings in shares of PennyMac Financial Services by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock worth $32,919,000 after purchasing an additional 40,676 shares during the period. EMG Holdings L.P. raised its holdings in shares of PennyMac Financial Services by 107.4% in the 2nd quarter. EMG Holdings L.P. now owns 64,451 shares of the real estate investment trust’s stock worth $6,097,000 after purchasing an additional 33,370 shares during the period. Denali Advisors LLC raised its holdings in shares of PennyMac Financial Services by 63.0% in the 2nd quarter. Denali Advisors LLC now owns 67,800 shares of the real estate investment trust’s stock worth $6,414,000 after purchasing an additional 26,200 shares during the period. Finally, 1832 Asset Management L.P. purchased a new position in shares of PennyMac Financial Services in the 1st quarter worth about $1,785,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PFSI. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays raised their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler raised their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a report on Monday, July 22nd. Finally, Wells Fargo & Company raised their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average price target of $115.86.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI opened at $105.23 on Friday. The company has a market cap of $5.39 billion, a P/E ratio of 33.41 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a one year low of $70.29 and a one year high of $119.13. The business’s 50-day simple moving average is $107.72 and its 200 day simple moving average is $99.15.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter last year, the business earned $1.77 EPS. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the sale, the chief executive officer now owns 210,604 shares in the company, valued at $20,915,083.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the transaction, the chief executive officer now owns 210,604 shares of the company’s stock, valued at approximately $20,915,083.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,855 shares of company stock worth $9,647,599 in the last 90 days. 16.60% of the stock is owned by corporate insiders.

About PennyMac Financial Services

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.