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

Deutsche Bank AG lessened its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 29.9% during the 4th quarter, according to its most recent disclosure 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 reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its stake in shares of PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock valued at $286,000 after acquiring an additional 154 shares during the period. KBC Group NV raised its holdings in 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 purchasing an additional 209 shares during the last quarter. Sterling Capital Management LLC lifted 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 valued at $41,000 after purchasing an additional 343 shares during the period. Dakota Wealth Management lifted its position in PennyMac Financial Services by 2.6% during the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock valued at $1,489,000 after purchasing an additional 374 shares during the period. Finally, TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services in the 4th quarter valued at about $39,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Trading Up 2.3%

NYSE:PFSI traded up $2.15 during trading hours on Tuesday, hitting $96.86. The stock had a trading volume of 335,059 shares, compared to its average volume of 311,311. The business's 50 day moving average is $97.59 and its 200-day moving average is $101.30. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.19 and a beta of 1.60. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced 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 net margin of 19.54% and a return on equity of 16.61%. The firm had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. During the same period last year, the firm earned $0.74 EPS. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on PFSI. Piper Sandler dropped their price target on shares of 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. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on shares of 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. Finally, UBS Group reduced their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $121.17.

Insiders Place Their Bets

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.45, for a total value of $1,044,225.00. Following the completion of the transaction, the chief financial officer now directly owns 234,025 shares of the company's stock, valued at approximately $23,273,786.25. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $102.55, for a total value of $273,705.95. Following the completion of the sale, the executive now directly owns 4,878 shares in the company, valued at $500,238.90. This represents a 35.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,481 shares of company stock worth $5,897,566 over the last ninety days. 16.60% of the stock is currently owned by corporate insiders.

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.