Bank of New York Mellon Corp Has $20.32 Million Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Bank of New York Mellon Corp grew its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 22.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,897 shares of the real estate investment trust’s stock after acquiring an additional 36,800 shares during the quarter. Bank of New York Mellon Corp owned 0.39% of PennyMac Financial Services worth $20,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. KBC Group NV raised its position in PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $203,000. Hohimer Wealth Management LLC bought a new position in PennyMac Financial Services during the 3rd quarter worth $236,000. Finally, Northwest & Ethical Investments L.P. grew its position in PennyMac Financial Services by 38.3% during the third quarter. Northwest & Ethical Investments L.P. now owns 2,330 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 645 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PFSI shares. Piper Sandler lowered their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $96.04 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13. The stock has a fifty day simple moving average of $103.50 and a two-hundred day simple moving average of $105.18.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $16,457,725.52. This represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Stanley Perotti sold 16,481 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $101.56, for a total value of $1,673,810.36. Following the transaction, the chief financial officer now directly owns 37,501 shares in the company, valued at $3,808,601.56. This trade represents a 30.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,697 shares of company stock worth $15,327,924 in the last ninety 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.