Deutsche Bank AG Sells 10,503 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Deutsche Bank AG lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 29.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,624 shares of the real estate investment trust's stock after selling 10,503 shares during the period. Deutsche Bank AG's holdings in PennyMac Financial Services were worth $2,515,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PFSI. Charles Schwab Investment Management Inc. grew its stake in shares of PennyMac Financial Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust's stock worth $46,352,000 after acquiring an additional 6,459 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of PennyMac Financial Services in the fourth quarter worth $1,307,000. Assenagon Asset Management S.A. lifted its position in shares of PennyMac Financial Services by 27.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust's stock worth $2,779,000 after purchasing an additional 5,833 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth $518,000. Finally, Barclays PLC lifted its position in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock valued at $6,859,000 after acquiring an additional 50,238 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PFSI shares. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a research note on Tuesday, April 8th. UBS Group reduced their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler cut their target price on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective 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. 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.17.

PennyMac Financial Services Stock Performance

Shares of PFSI traded down $0.48 during mid-day trading on Friday, reaching $94.87. 399,496 shares of the company's stock traded hands, compared to its average volume of 311,216. The business's 50-day moving average price is $97.78 and its 200-day moving average price is $101.43. The stock has a market capitalization of $4.90 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $520.42 million. During the same quarter last year, the firm posted $0.74 EPS. Equities analysts predict 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 was paid on Friday, May 23rd. Stockholders 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 1.26%. The ex-dividend date was Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Insider Activity

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the completion of the transaction, the chief financial officer now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Follette sold 1,983 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now directly owns 10,497 shares of the company's stock, valued at $1,048,965.21. This represents a 15.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,464 shares of company stock worth $6,095,727 in the last ninety days. Corporate insiders own 16.60% of the company's stock.

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.