Deutsche Bank AG bought a new position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,370 shares of the real estate investment trust's stock, valued at approximately $2,732,000. Deutsche Bank AG owned approximately 0.06% of PennyMac Financial Services as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in PennyMac Financial Services by 0.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust's stock worth $1,598,000 after acquiring an additional 111 shares in the last quarter. Sei Investments Co. raised its holdings in shares of PennyMac Financial Services by 0.7% during the 3rd quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust's stock valued at $2,743,000 after purchasing an additional 146 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of PennyMac Financial Services by 1.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust's stock valued at $2,026,000 after purchasing an additional 163 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of PennyMac Financial Services by 7.3% in the 4th quarter. Cerity Partners LLC now owns 2,399 shares of the real estate investment trust's stock valued at $316,000 after purchasing an additional 164 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of PennyMac Financial Services by 4.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,619 shares of the real estate investment trust's stock valued at $609,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.
PennyMac Financial Services Price Performance
PennyMac Financial Services stock opened at $73.52 on Friday. PennyMac Financial Services, Inc. has a 52 week low of $71.68 and a 52 week high of $160.36. The business's fifty day moving average is $80.52 and its two-hundred day moving average is $85.41. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $3.82 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.69 and a beta of 1.45.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. PennyMac Financial Services's quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $2.54 earnings per share. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 7.36 earnings per share for the current fiscal year.
PennyMac Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, August 17th. This represents a $1.20 annualized dividend and a yield of 1.6%. PennyMac Financial Services's dividend payout ratio is presently 16.48%.
Insiders Place Their Bets
In other news, CAO Gregory L. Hendry sold 2,943 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $81.71, for a total value of $240,472.53. Following the completion of the transaction, the chief accounting officer owned 48,968 shares in the company, valued at $4,001,175.28. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.20% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on PFSI shares. Stephens decreased their price objective on shares of PennyMac Financial Services from $91.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Wall Street Zen downgraded shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Piper Sandler lowered shares of PennyMac Financial Services from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $106.00 to $86.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $108.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Finally, BTIG Research lowered their price target on PennyMac Financial Services from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $104.88.
Check Out Our Latest Report on PennyMac Financial Services
About PennyMac Financial Services
(
Free Report)
PennyMac Financial Services, Inc NYSE: PFSI is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.
Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.
Further Reading
Want to see what other hedge funds are holding PFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report).
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