PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 88.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,508 shares of the real estate investment trust's stock after purchasing an additional 8,702 shares during the quarter. BNP Paribas Financial Markets' holdings in PennyMac Financial Services were worth $2,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP lifted its stake in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after purchasing an additional 290 shares during the last quarter. FMR LLC grew its stake in PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock worth $133,003,000 after acquiring an additional 815,389 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in PennyMac Financial Services by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust's stock worth $50,985,000 after purchasing an additional 31,035 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in PennyMac Financial Services during the 3rd quarter valued at $24,644,000. Finally, Intech Investment Management LLC purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth $956,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Price Performance

PFSI traded up $1.25 during trading on Friday, hitting $107.07. The company's stock had a trading volume of 165,676 shares, compared to its average volume of 242,766. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 33.99 and a beta of 1.78. The business's fifty day simple moving average is $105.33 and its 200 day simple moving average is $101.14. PennyMac Financial Services, Inc. has a twelve month low of $79.11 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the prior year, the company posted $1.77 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.12%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Friday, November 15th. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the transaction, the chief financial officer now owns 225,497 shares in the company, valued at $22,554,209.94. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Spector sold 10,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00. Following the completion of the sale, the chief executive officer now directly owns 170,604 shares of the company's stock, valued at $17,904,889.80. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,162 shares of company stock valued at $8,540,526 over the last quarter. 16.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PFSI. Wells Fargo & Company raised their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Wedbush restated an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, Barclays upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $121.00.

About PennyMac Financial Services

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.