Bryce Point Capital LLC Invests $1.55 Million in PennyMac Financial Services, Inc. (NYSE:PFSI)

Bryce Point Capital LLC purchased a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,165 shares of the real estate investment trust’s stock, valued at approximately $1,549,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Parkside Financial Bank & Trust grew its position in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares in the last quarter. KBC Group NV grew its holdings in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 209 shares in the last quarter. Quantbot Technologies LP grew its stake in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares in the last quarter. Verition Fund Management LLC bought a new position in PennyMac Financial Services in the 3rd quarter valued at about $203,000. Finally, Hohimer Wealth Management LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $236,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler lowered their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Insider Activity at PennyMac Financial Services

In other news, insider James Follette sold 1,983 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total value of $496,900.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,054 shares of company stock worth $4,478,386 over the last ninety days. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Down 0.0 %

NYSE:PFSI opened at $100.11 on Wednesday. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The company has a market cap of $5.15 billion, a PE ratio of 17.14, a P/E/G ratio of 0.19 and a beta of 1.90. The firm’s 50 day simple moving average is $102.70 and its 200 day simple moving average is $104.37.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

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.