Parkside Financial Bank & Trust Buys New Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the fourth quarter, Holdings Channel reports. The fund purchased 410 shares of the real estate investment trust’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in PennyMac Financial Services during the 3rd quarter worth about $57,000. Saxon Interests Inc. acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth about $208,000. Foster & Motley Inc. purchased a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $234,000. Contravisory Investment Management Inc. acquired a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $252,000. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in PennyMac Financial Services during the 4th quarter worth approximately $285,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Up 0.9 %

Shares of NYSE PFSI opened at $87.01 on Friday. The stock has a market cap of $4.39 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. PennyMac Financial Services, Inc. has a 52-week low of $56.16 and a 52-week high of $94.78. The business has a 50-day moving average price of $87.83 and a 200 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) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. The firm 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%. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.58 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio is presently 27.78%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Derek Stark sold 5,255 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total transaction of $470,007.20. Following the transaction, the insider now owns 27,084 shares of the company’s stock, valued at $2,422,392.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Follette sold 2,617 shares of the 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 completion of the transaction, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. 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 in the last three months. Insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PFSI shares. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays boosted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Finally, StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday. One research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.75.

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.