PennyMac Financial Services, Inc. $PFSI Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 210.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,605 shares of the real estate investment trust’s stock after buying an additional 29,557 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.08% of PennyMac Financial Services worth $3,811,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFSI. Vanguard Group Inc. boosted its stake in PennyMac Financial Services by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,832,737 shares of the real estate investment trust’s stock valued at $373,468,000 after acquiring an additional 12,782 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of PennyMac Financial Services by 7.3% in the 4th quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock valued at $206,881,000 after purchasing an additional 106,088 shares during the last quarter. 140 Summer Partners LP lifted its holdings in shares of PennyMac Financial Services by 50.2% in the 4th quarter. 140 Summer Partners LP now owns 669,892 shares of the real estate investment trust’s stock valued at $88,319,000 after purchasing an additional 223,752 shares during the last quarter. Basswood Capital Management L.L.C. boosted its position in shares of PennyMac Financial Services by 5.9% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock valued at $56,816,000 after purchasing an additional 31,743 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of PennyMac Financial Services by 43.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 400,788 shares of the real estate investment trust’s stock valued at $39,935,000 after purchasing an additional 121,382 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays lowered PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $107.00 to $93.00 in a research report on Tuesday. Zacks Research downgraded shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Wells Fargo & Company decreased their price target on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $114.62.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock traded down $1.13 during midday trading on Tuesday, reaching $82.62. The company’s stock had a trading volume of 186,815 shares, compared to its average volume of 708,708. The firm has a market capitalization of $4.29 billion, a PE ratio of 8.78, a P/E/G ratio of 0.56 and a beta of 1.44. PennyMac Financial Services, Inc. has a fifty-two week low of $77.67 and a fifty-two week high of $160.36. The stock’s 50 day simple moving average is $85.07 and its 200 day simple moving average is $100.08. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The company had revenue of $544.98 million during the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the business posted $1.42 earnings per share. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.43 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, May 18th. PennyMac Financial Services’s payout ratio is currently 12.75%.

Insider Buying and Selling

In related news, CAO Gregory L. Hendry sold 2,943 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $81.71, for a total value of $240,472.53. Following the sale, the chief accounting officer owned 48,968 shares of the company’s stock, valued at approximately $4,001,175.28. This represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total transaction of $879,900.00. Following the transaction, the chief executive officer directly owned 60,604 shares in the company, valued at $5,332,545.96. The trade was a 14.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,045 shares of company stock worth $2,493,770 in the last ninety days. Insiders own 15.80% of the company’s stock.

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.