BNP Paribas Financial Markets Decreases Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

BNP Paribas Financial Markets reduced its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 81.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,345 shares of the real estate investment trust's stock after selling 15,163 shares during the period. BNP Paribas Financial Markets' holdings in PennyMac Financial Services were worth $342,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new position in PennyMac Financial Services during the 4th quarter worth $39,000. Sterling Capital Management LLC raised its position in 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 purchasing an additional 343 shares during the last quarter. Aquatic Capital Management LLC bought a new position in PennyMac Financial Services during the 4th quarter worth $71,000. Parkside Financial Bank & Trust raised its position in 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 purchasing an additional 389 shares during the last quarter. Finally, KBC Group NV raised its position in shares of PennyMac Financial Services by 15.6% in 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. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock traded down $0.16 on Friday, reaching $96.52. 71,432 shares of the company traded hands, compared to its average volume of 310,227. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13. The company has a 50 day moving average of $97.35 and a 200 day moving average of $101.20. The firm has a market capitalization of $4.99 billion, a PE ratio of 16.53, a PEG ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Wall Street Analyst Weigh In

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

Insider Activity at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00. Following the sale, the chief executive officer now owns 150,604 shares of the company's stock, valued at approximately $15,578,477.76. The trade was a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek Stark sold 588 shares of PennyMac Financial Services stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $101.52, for a total transaction of $59,693.76. Following the sale, the insider now directly owns 25,621 shares in the company, valued at $2,601,043.92. The trade was a 2.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,532 shares of company stock valued at $4,981,689. Insiders own 16.60% of the company's stock.

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.