Cibc World Markets Corp Invests $255,000 in PennyMac Financial Services, Inc. (NYSE:PFSI)

Cibc World Markets Corp acquired a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,501 shares of the real estate investment trust's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its stake in shares of PennyMac Financial Services by 54.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after acquiring an additional 389 shares during the last quarter. KBC Group NV boosted its stake in PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 209 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after buying an additional 290 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of PennyMac Financial Services in the 3rd quarter worth approximately $203,000. Finally, Hohimer Wealth Management LLC bought a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $236,000. Institutional investors own 57.87% of the company's stock.

Insider Activity at PennyMac Financial Services

In other news, insider James Follette sold 1,983 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the sale, the insider now owns 10,497 shares in the company, valued at $1,048,965.21. This trade represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Spector sold 5,000 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at $16,457,725.52. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,054 shares of company stock worth $4,478,386. 16.60% of the stock is owned by company insiders.

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Analyst Ratings Changes

PFSI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research report on Tuesday, December 10th. Piper Sandler cut their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $122.17.

PennyMac Financial Services Stock Performance

NYSE:PFSI traded down $0.89 on Friday, hitting $100.34. The stock had a trading volume of 239,577 shares, compared to its average volume of 279,046. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The business's 50-day simple moving average is $103.02 and its two-hundred day simple moving average is $104.57.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. PennyMac Financial Services's payout ratio is currently 20.55%.

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.