Palogic Value Management L.P. Sells 2,500 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Palogic Value Management L.P. trimmed its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,103 shares of the real estate investment trust’s stock after selling 2,500 shares during the period. Palogic Value Management L.P.’s holdings in PennyMac Financial Services were worth $1,865,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PFSI. USA Financial Formulas bought a new stake in shares of PennyMac Financial Services in the 4th quarter valued at approximately $25,000. Hexagon Capital Partners LLC raised its holdings in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth approximately $36,000. TFO Wealth Partners LLC raised its holdings in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,141 shares during the period. Finally, Saxon Interests Inc. purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth approximately $208,000. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Stock Performance

PFSI remained flat at $92.78 during trading on Thursday. The company’s stock had a trading volume of 191,961 shares, compared to its average volume of 230,334. The stock has a 50-day moving average price of $90.15 and a 200 day moving average price of $87.88. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 0.58 and a beta of 1.70. PennyMac Financial Services, Inc. has a one year low of $62.15 and a one year high of $94.80. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The business had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were issued a $0.20 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.86%. PennyMac Financial Services’s dividend payout ratio is presently 27.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PFSI. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Barclays increased their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.75.

Insider Activity

In other news, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the transaction, the insider now directly owns 27,084 shares in the company, valued at approximately $2,422,392.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the sale, the director now owns 116,546 shares of the company’s stock, valued at approximately $10,574,218.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek Stark sold 5,255 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the sale, the insider now directly owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,120 shares of company stock worth $8,501,777. 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.