Rhumbline Advisers Sells 6,614 Shares of PennyMac Financial Services, Inc. $PFSI

Rhumbline Advisers reduced its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,292 shares of the real estate investment trust’s stock after selling 6,614 shares during the period. Rhumbline Advisers owned approximately 0.09% of PennyMac Financial Services worth $5,859,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PFSI. Geode Capital Management LLC lifted its stake in shares of PennyMac Financial Services by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 721,757 shares of the real estate investment trust’s stock valued at $71,924,000 after purchasing an additional 41,124 shares during the period. Basswood Capital Management L.L.C. grew its stake in shares of PennyMac Financial Services by 5.9% during the second quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock worth $56,816,000 after purchasing an additional 31,743 shares during the period. Norges Bank bought a new stake in PennyMac Financial Services in the second quarter valued at about $39,976,000. Ameriprise Financial Inc. boosted its holdings in PennyMac Financial Services by 43.4% during the second quarter. Ameriprise Financial Inc. now owns 400,788 shares of the real estate investment trust’s stock worth $39,935,000 after buying an additional 121,382 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of PennyMac Financial Services by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 399,388 shares of the real estate investment trust’s stock worth $39,795,000 after buying an additional 52,227 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insiders Place Their Bets

In related news, Director Doug Jones sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $132.63, for a total value of $2,652,600.00. Following the sale, the director owned 430,000 shares in the company, valued at approximately $57,030,900. This represents a 4.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Kinsella acquired 2,250 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was bought at an average price of $89.15 per share, for a total transaction of $200,587.50. Following the completion of the acquisition, the director owned 34,210 shares of the company’s stock, valued at approximately $3,049,821.50. The trade was a 7.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 54,405 shares of company stock valued at $6,714,976 in the last quarter. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Zacks Research lowered shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Wells Fargo & Company reduced their price target on shares of PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Jefferies Financial Group initiated coverage on shares of PennyMac Financial Services in a research report on Friday, December 19th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Weiss Ratings downgraded PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PennyMac Financial Services presently has an average rating of “Hold” and a consensus target price of $139.71.

PennyMac Financial Services Stock Down 1.9%

Shares of PFSI stock opened at $92.53 on Monday. The firm has a fifty day moving average of $125.92 and a 200-day moving average of $122.96. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $160.36. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 0.52 and a beta of 1.55. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 EPS for the quarter, missing the consensus estimate of $3.23 by ($1.26). The firm had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.36%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 EPS. As a group, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Monday, February 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.90%.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.