PennyMac Financial Services, Inc. $PFSI Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,433 shares of the real estate investment trust’s stock after selling 2,191 shares during the quarter. Deutsche Bank AG’s holdings in PennyMac Financial Services were worth $2,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC grew its holdings in shares of PennyMac Financial Services by 104.5% during the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock worth $52,967,000 after buying an additional 264,956 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PennyMac Financial Services by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 457,234 shares of the real estate investment trust’s stock worth $45,774,000 after buying an additional 3,424 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PennyMac Financial Services by 45.9% during the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after buying an additional 91,338 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of PennyMac Financial Services by 0.4% during the fourth quarter. Ameriprise Financial Inc. now owns 178,883 shares of the real estate investment trust’s stock worth $18,271,000 after buying an additional 760 shares in the last quarter. Finally, Lightrock Netherlands B.V. grew its holdings in shares of PennyMac Financial Services by 55.1% during the first quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock worth $13,643,000 after buying an additional 48,312 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays lowered their price target on shares of PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Wells Fargo & Company lowered their target price on shares of PennyMac Financial Services from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Piper Sandler lowered their target price on shares of PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Finally, UBS Group lowered their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.67.

PennyMac Financial Services Trading Down 1.5%

NYSE PFSI opened at $105.3380 on Thursday. The company’s fifty day simple moving average is $99.43 and its 200-day simple moving average is $98.92. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.03. The stock has a market cap of $5.45 billion, a P/E ratio of 14.61 and a beta of 1.50.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($1.99). The firm had revenue of $444.73 million for the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. Equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Wednesday, August 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.20 annualized dividend and a yield of 1.1%. PennyMac Financial Services’s dividend payout ratio is currently 16.64%.

Insider Buying and Selling at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 7,107 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $108.16, for a total value of $768,693.12. Following the sale, the director directly owned 86,050 shares of the company’s stock, valued at $9,307,168. This represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $105.73, for a total transaction of $528,650.00. Following the completion of the sale, the chief executive officer directly owned 130,604 shares in the company, valued at $13,808,760.92. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,107 shares of company stock worth $2,292,843 over the last ninety days. 15.80% 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.