Denali Advisors LLC Grows Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Denali Advisors LLC increased its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 63.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,800 shares of the real estate investment trust’s stock after buying an additional 26,200 shares during the period. PennyMac Financial Services comprises about 1.8% of Denali Advisors LLC’s holdings, making the stock its 11th largest position. Denali Advisors LLC owned about 0.13% of PennyMac Financial Services worth $6,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in PennyMac Financial Services in the 4th quarter valued at about $31,258,000. Edgestream Partners L.P. raised its stake in PennyMac Financial Services by 256.9% in the 2nd quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock valued at $8,028,000 after purchasing an additional 61,087 shares during the last quarter. Principal Financial Group Inc. raised its stake in PennyMac Financial Services by 45.6% in the 4th quarter. Principal Financial Group Inc. now owns 162,541 shares of the real estate investment trust’s stock valued at $14,364,000 after purchasing an additional 50,877 shares during the last quarter. American Century Companies Inc. raised its stake in PennyMac Financial Services by 13.2% in the 2nd 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 last quarter. Finally, Quantbot Technologies LP acquired a new position in PennyMac Financial Services in the 1st quarter valued at about $2,570,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFSI has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Wedbush upped their price objective on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $107.17.

PennyMac Financial Services Trading Up 1.2 %

NYSE PFSI opened at $116.57 on Tuesday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services, Inc. has a 12 month low of $62.15 and a 12 month high of $117.67. The company has a market cap of $5.97 billion, a P/E ratio of 40.48, a P/E/G ratio of 0.72 and a beta of 1.77. The company has a 50-day moving average of $101.29 and a 200-day moving average of $94.01.

PennyMac Financial Services (NYSE:PFSI) last issued its 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). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts predict that PennyMac Financial Services, Inc. will post 10.61 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s payout ratio is presently 41.67%.

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the completion of the sale, the chief executive officer now owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the completion of the transaction, the chief executive officer now owns 220,604 shares in the company, valued at approximately $20,308,804.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph F. Mazzella sold 11,396 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the transaction, the director now owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,225 shares of company stock worth $5,487,319. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Company 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.