Tidal Investments LLC Acquires 8,078 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Tidal Investments LLC raised its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 115.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 15,086 shares of the real estate investment trust's stock after purchasing an additional 8,078 shares during the period. Tidal Investments LLC's holdings in PennyMac Financial Services were worth $1,719,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock valued at $133,003,000 after buying an additional 815,389 shares during the period. State Street Corp boosted its stake in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock worth $103,911,000 after acquiring an additional 51,777 shares in the last quarter. Geode Capital Management LLC grew its holdings in PennyMac Financial Services by 3.1% in the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust's stock worth $73,841,000 after purchasing an additional 19,662 shares during the period. Charles Schwab Investment Management Inc. increased 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 valued at $50,985,000 after purchasing an additional 31,035 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of PennyMac Financial Services by 13.2% during the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust's stock valued at $32,919,000 after purchasing an additional 40,676 shares during the period. 57.87% of the stock is owned by institutional investors.

Insider Activity at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $104.95, for a total transaction of $1,049,500.00. Following the sale, the chief executive officer now directly owns 170,604 shares in the company, valued at $17,904,889.80. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the transaction, the chief accounting officer now owns 48,040 shares of the company's stock, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,032 shares of company stock worth $5,721,112. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Performance

PFSI traded down $4.09 during midday trading on Wednesday, reaching $99.60. The company had a trading volume of 403,505 shares, compared to its average volume of 255,785. The business has a 50-day moving average price of $104.51 and a two-hundred day moving average price of $101.94. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13. The stock has a market cap of $5.11 billion, a PE ratio of 31.62 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). The firm had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. PennyMac Financial Services's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company posted $1.77 earnings per share. On average, sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share 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. Investors of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's dividend payout ratio (DPR) is currently 38.10%.

Wall Street Analysts Forecast Growth

PFSI has been the topic of a number of research reports. Piper Sandler upped their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Wedbush reissued an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays boosted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has an average rating of "Moderate Buy" and a consensus target price of $122.50.

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.