Bryce Point Capital LLC Has $728,000 Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Key Points

• Bryce Point Capital LLC significantly reduced its stake in PennyMac Financial Services by 52.7%, owning 7,169 shares after selling 7,996 shares, valued at approximately $728,000.
• PennyMac Financial Services has seen varied responses from analysts, with price targets being lowered by multiple firms; the average target price currently stands at $118.67.
• The company reported a quarterly EPS of $1.02, falling short of the projected $3.01, despite a year-over-year revenue increase of 9.5%.

Bryce Point Capital LLC decreased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 52.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,169 shares of the real estate investment trust's stock after selling 7,996 shares during the period. Bryce Point Capital LLC's holdings in PennyMac Financial Services were worth $728,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PFSI. Teacher Retirement System of Texas acquired a new position in PennyMac Financial Services during the 4th quarter valued at approximately $518,000. Sei Investments Co. raised its holdings in shares of PennyMac Financial Services by 5.7% during the fourth quarter. Sei Investments Co. now owns 18,379 shares of the real estate investment trust's stock valued at $1,877,000 after buying an additional 991 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $654,000. Vanguard Group Inc. raised its holdings in shares of PennyMac Financial Services by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after buying an additional 199,667 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $38,004,000. Institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Stock Down 0.6%

Shares of PFSI stock traded down $0.54 on Thursday, reaching $93.52. 88,658 shares of the company's stock traded hands, compared to its average volume of 375,864. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $119.13. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $4.83 billion, a P/E ratio of 12.97 and a beta of 1.53. The business's 50 day moving average price is $97.63 and its two-hundred day moving average price is $99.57.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $3.01 by ($1.99). PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.34%. The company had revenue of $444.73 million for the quarter, compared to analysts' expectations of $547.44 million. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The company's revenue was up 9.5% on a year-over-year basis. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 16.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PFSI shares. Wells Fargo & Company cut their price target on PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Piper Sandler lowered their price objective on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Barclays dropped their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 8th. UBS Group dropped their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.67.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 5,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the transaction, the chief executive officer owned 135,604 shares of the company's stock, valued at $13,670,239.24. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total value of $1,044,225.00. Following the sale, the chief financial officer owned 234,025 shares in the company, valued at approximately $23,273,786.25. This trade represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,500 shares of company stock worth $3,616,005 over the last ninety days. Company insiders own 15.80% of the company's stock.

PennyMac Financial Services Company 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.