State of Wyoming Sells 967 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

State of Wyoming lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,980 shares of the real estate investment trust’s stock after selling 967 shares during the period. State of Wyoming’s holdings in PennyMac Financial Services were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. bought a new position in PennyMac Financial Services during the fourth quarter worth about $39,000. Sterling Capital Management LLC boosted its holdings in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares during the last quarter. Aquatic Capital Management LLC bought a new position in PennyMac Financial Services during the fourth quarter worth about $71,000. Parkside Financial Bank & Trust boosted its holdings in PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 389 shares during the last quarter. Finally, KBC Group NV boosted its holdings in PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 209 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $99.15, for a total transaction of $495,750.00. Following the sale, the chief executive officer now owns 145,604 shares in the company, valued at $14,436,636.60. This represents a 3.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph F. Mazzella sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total value of $1,080,530.00. Following the sale, the director now owns 92,863 shares in the company, valued at approximately $9,121,932.49. This represents a 10.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,964 shares of company stock worth $5,051,502. Corporate insiders own 16.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler reduced their target price on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. UBS Group decreased their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.17.

PennyMac Financial Services Trading Up 1.0%

NYSE PFSI opened at $101.80 on Monday. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.19 and a beta of 1.60. The stock’s 50 day moving average price is $97.72 and its two-hundred day moving average price is $101.55. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services’s payout ratio is 18.40%.

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.