Norges Bank Takes Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Norges Bank purchased a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 372,074 shares of the real estate investment trust’s stock, valued at approximately $38,004,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its position in 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 acquiring an additional 389 shares during the period. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 209 shares during the period. Verition Fund Management LLC purchased a new position in PennyMac Financial Services in the 3rd quarter valued at $203,000. Hohimer Wealth Management LLC acquired a new position in PennyMac Financial Services in the 3rd quarter valued at $236,000. Finally, Cibc World Markets Corp purchased a new position in PennyMac Financial Services during the 4th quarter worth $255,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Buying and Selling

In other news, CEO David Spector sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $16,457,725.52. The trade was a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $101.49, for a total value of $1,065,645.00. Following the sale, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,054 shares of company stock worth $4,995,586 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the topic of several analyst reports. Piper Sandler lowered their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. One research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.17.

PennyMac Financial Services Stock Up 0.6 %

PFSI stock opened at $103.52 on Friday. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market cap of $5.32 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.19 and a beta of 1.90. The company’s 50-day moving average price is $102.33 and its 200 day moving average price is $104.18.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results 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 return on equity of 16.61% and a net margin of 19.54%. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

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.