Bank of New York Mellon Corp Buys 91,338 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Bank of New York Mellon Corp increased its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 45.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,235 shares of the real estate investment trust's stock after acquiring an additional 91,338 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of PennyMac Financial Services worth $29,055,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Lightrock Netherlands B.V. grew its position in PennyMac Financial Services by 55.1% in the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust's stock worth $13,643,000 after purchasing an additional 48,312 shares during the last quarter. Rhumbline Advisers grew its position in PennyMac Financial Services by 1.6% in the 1st quarter. Rhumbline Advisers now owns 42,208 shares of the real estate investment trust's stock worth $4,225,000 after purchasing an additional 679 shares during the last quarter. GAMMA Investing LLC grew its position in PennyMac Financial Services by 12,101.0% in the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock worth $1,173,000 after purchasing an additional 11,617 shares during the last quarter. ProShare Advisors LLC grew its position in PennyMac Financial Services by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust's stock worth $769,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Millennium Management LLC grew its position in PennyMac Financial Services by 104.5% in the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock worth $52,967,000 after purchasing an additional 264,956 shares during the last quarter. Institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Trading Down 0.1%

NYSE PFSI traded down $0.14 during trading on Friday, reaching $100.80. 223,110 shares of the stock traded hands, compared to its average volume of 327,521. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.21 and a beta of 1.53. The stock's 50-day moving average price is $98.13 and its 200 day moving average price is $99.73. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.96. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. During the same quarter in the prior year, the firm posted $0.74 EPS. Analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio (DPR) is presently 18.40%.

Insider Activity

In other news, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the transaction, the director owned 92,863 shares in the company, valued at $9,121,932.49. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the transaction, the chief financial officer owned 234,025 shares of the company's stock, valued at $23,273,786.25. The trade was a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,500 shares of company stock worth $3,616,005 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PFSI has been the subject of several analyst reports. Wells Fargo & Company cut 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, April 24th. Barclays cut their price target on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. UBS Group reissued a "neutral" rating and set a $115.00 price target (up from $110.00) on shares of PennyMac Financial Services in a report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price target on shares of PennyMac Financial Services from $114.00 to $121.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Piper Sandler cut their price target on shares of PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, PennyMac Financial Services has an average rating of "Moderate Buy" and a consensus target price of $121.67.

PennyMac Financial Services 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.