BNP Paribas Financial Markets Sells 15,163 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

BNP Paribas Financial Markets lowered its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 81.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,345 shares of the real estate investment trust's stock after selling 15,163 shares during the quarter. BNP Paribas Financial Markets' holdings in PennyMac Financial Services were worth $342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new position in PennyMac Financial Services in the fourth quarter valued at about $39,000. Sterling Capital Management LLC boosted its stake in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $71,000. Parkside Financial Bank & Trust boosted its stake in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after acquiring an additional 389 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock worth $158,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Mark Elbaum sold 410 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the completion of the transaction, the insider now owns 4,207 shares of the company's stock, valued at $432,816.16. This represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Follette sold 992 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $100.81, for a total value of $100,003.52. Following the completion of the transaction, the insider now directly owns 7,338 shares of the company's stock, valued at approximately $739,743.78. This trade represents a 11.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,532 shares of company stock valued at $4,981,689. Insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI traded down $0.70 during trading hours on Friday, hitting $95.98. 259,789 shares of the company's stock were exchanged, compared to its average volume of 312,136. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.19 and a beta of 1.60. The company's 50-day moving average price is $97.22 and its 200-day moving average price is $101.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The business had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. During the same period in the prior year, the firm posted $0.74 EPS. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. PennyMac Financial Services's dividend payout ratio is presently 18.40%.

Analysts Set New Price Targets

PFSI has been the subject of several recent analyst reports. Piper Sandler decreased their price target on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. UBS Group decreased their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. One 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.17.

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.