8,362 Shares in PennyMac Financial Services, Inc. $PFSI Bought by Federated Hermes Inc.

Federated Hermes Inc. purchased a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,362 shares of the real estate investment trust’s stock, valued at approximately $1,036,000.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in shares of PennyMac Financial Services during the second quarter worth about $26,000. Strs Ohio purchased a new position in PennyMac Financial Services in the first quarter worth approximately $30,000. Bayforest Capital Ltd acquired a new position in PennyMac Financial Services during the 2nd quarter worth approximately $62,000. Harbor Capital Advisors Inc. grew its holdings in PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 105 shares in the last quarter. Finally, CWM LLC increased its position in shares of PennyMac Financial Services by 92.7% in the 3rd quarter. CWM LLC now owns 555 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $145.19, for a total transaction of $1,451,900.00. Following the completion of the sale, the chief executive officer owned 100,604 shares in the company, valued at approximately $14,606,694.76. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doug Jones sold 23,453 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $127.56, for a total value of $2,991,664.68. Following the transaction, the director directly owned 19,056 shares in the company, valued at approximately $2,430,783.36. This represents a 55.17% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 75,758 shares of company stock valued at $9,967,733. Company insiders own 15.80% of the company’s stock.

PennyMac Financial Services Trading Up 1.2%

NYSE:PFSI opened at $97.28 on Friday. The company has a market capitalization of $5.06 billion, a PE ratio of 10.46, a P/E/G ratio of 0.54 and a beta of 1.54. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $160.36. The stock’s 50 day moving average price is $134.35 and its 200 day moving average price is $122.85. 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 posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share 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 analyst estimates of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.36%. PennyMac Financial Services’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 earnings per share. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Monday, February 16th will be paid a $0.30 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. PennyMac Financial Services’s payout ratio is currently 12.90%.

Wall Street Analyst Weigh In

PFSI has been the subject of several recent analyst reports. Wall Street Zen cut shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Zacks Research downgraded PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Tuesday. Barclays lowered their price objective on PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Weiss Ratings cut PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Five 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.71.

About PennyMac Financial Services

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.