Federated Hermes Inc. Has $5.33 Million Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Federated Hermes Inc. boosted its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 40.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,346 shares of the real estate investment trust's stock after purchasing an additional 17,245 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of PennyMac Financial Services worth $5,333,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PFSI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PennyMac Financial Services by 14.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,214 shares of the real estate investment trust's stock valued at $814,000 after buying an additional 1,138 shares during the last quarter. MorganRosel Wealth Management LLC boosted its position in PennyMac Financial Services by 12.0% in the 4th quarter. MorganRosel Wealth Management LLC now owns 10,575 shares of the real estate investment trust's stock worth $935,000 after purchasing an additional 1,131 shares in the last quarter. Denali Advisors LLC boosted its position in PennyMac Financial Services by 18.1% in the 4th quarter. Denali Advisors LLC now owns 14,900 shares of the real estate investment trust's stock worth $1,317,000 after purchasing an additional 2,283 shares in the last quarter. Saxon Interests Inc. purchased a new stake in PennyMac Financial Services in the 4th quarter worth approximately $208,000. Finally, Contravisory Investment Management Inc. purchased a new stake in PennyMac Financial Services in the 4th quarter worth approximately $252,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Performance

PFSI traded up $0.81 during trading on Friday, hitting $87.01. 487,854 shares of the stock were exchanged, compared to its average volume of 243,849. The firm has a market capitalization of $4.39 billion, a P/E ratio of 30.21, a PEG ratio of 0.61 and a beta of 1.67. PennyMac Financial Services, Inc. has a 1-year low of $56.16 and a 1-year high of $94.78. The stock has a fifty day moving average price of $87.83 and a two-hundred day moving average price of $83.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.14. The business had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. As a group, sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.41 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be paid a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.92%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 27.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PFSI shares. Barclays increased their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday. StockNews.com downgraded PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Wedbush restated an "outperform" rating and set a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $97.75.

Insider Activity at PennyMac Financial Services

In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now directly owns 7,257 shares in the company, valued at $625,843.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now owns 7,257 shares of the company's stock, valued at $625,843.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 26,451 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.05, for a total value of $2,276,108.55. Following the completion of the sale, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock worth $7,666,108 over the last three months. 17.40% of the stock is currently owned by corporate insiders.

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.