PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,245 shares of the real estate investment trust's stock after purchasing an additional 4,930 shares during the period. Bank of New York Mellon Corp owned about 0.36% of PennyMac Financial Services worth $17,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in PennyMac Financial Services by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust's stock worth $237,851,000 after acquiring an additional 70,178 shares during the last quarter. Vanguard Group Inc. boosted its position in PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust's stock worth $238,509,000 after acquiring an additional 8,345 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust's stock worth $35,060,000 after acquiring an additional 3,947 shares during the last quarter. Norges Bank acquired a new position in PennyMac Financial Services during the fourth quarter worth about $31,258,000. Finally, Boston Partners acquired a new position in PennyMac Financial Services during the fourth quarter worth about $28,191,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

Insider Activity

In related news, Director Joseph F. Mazzella sold 11,396 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the sale, the director now directly owns 105,446 shares of the company's stock, valued at approximately $10,325,272.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Joseph F. Mazzella sold 11,396 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the sale, the director now directly owns 105,446 shares of the company's stock, valued at approximately $10,325,272.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total transaction of $993,100.00. Following the sale, the chief executive officer now directly owns 210,604 shares in the company, valued at $20,915,083.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,225 shares of company stock valued at $5,487,319. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Trading Down 1.4 %

Shares of PennyMac Financial Services stock traded down $1.51 on Friday, reaching $106.63. The company had a trading volume of 274,955 shares, compared to its average volume of 247,410. The firm's 50 day moving average price is $99.13 and its two-hundred day moving average price is $92.90. The firm has a market cap of $5.43 billion, a PE ratio of 37.02, a PEG ratio of 0.70 and a beta of 1.77. PennyMac Financial Services, Inc. has a 52-week low of $62.15 and a 52-week high of $109.34. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to analysts' expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. PennyMac Financial Services's revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.54 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from PennyMac Financial Services's previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services's payout ratio is 41.67%.

Wall Street Analyst Weigh In

PFSI has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 target price on the stock. in a report on Monday, July 22nd. Wedbush boosted their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $107.17.

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.