PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 88.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,508 shares of the real estate investment trust’s stock after purchasing an additional 8,702 shares during the quarter. BNP Paribas Financial Markets’ holdings in PennyMac Financial Services were worth $2,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP increased its stake in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares during the period. FMR LLC increased its stake in shares of PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after acquiring an additional 815,389 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of PennyMac Financial Services by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after acquiring an additional 31,035 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services in the third quarter worth $24,644,000. Finally, Intech Investment Management LLC acquired a new stake in PennyMac Financial Services during the third quarter valued at $956,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $107.07 on Friday. PennyMac Financial Services, Inc. has a twelve month low of $79.11 and a twelve month high of $119.13. The company has a market cap of $5.49 billion, a P/E ratio of 33.99 and a beta of 1.78. The company’s 50-day moving average price is $105.33 and its 200-day moving average price is $101.14. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the business posted $1.77 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Wall Street Analyst Weigh In

PFSI has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Piper Sandler increased their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and an average target price of $121.00.

Insider Buying and Selling at PennyMac Financial Services

In related news, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. The trade was a 49.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the completion of the transaction, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. This trade represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,162 shares of company stock worth $8,540,526 over the last three months. Insiders own 16.60% of the company’s stock.

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.