PennyMac Financial Services, Inc. $PFSI Stock Holdings Trimmed by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. trimmed its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 51.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,809 shares of the real estate investment trust’s stock after selling 64,154 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in PennyMac Financial Services were worth $3,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFSI. MFN Partners Management LP acquired a new stake in shares of PennyMac Financial Services in the second quarter valued at about $394,719,083. BlackRock Inc. purchased a new stake in shares of PennyMac Financial Services during the second quarter worth about $202,735,000. Dimensional Fund Advisors LP increased its stake in shares of PennyMac Financial Services by 7.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,916,271 shares of the real estate investment trust’s stock worth $167,474,000 after purchasing an additional 126,902 shares in the last quarter. Donald Smith & CO. Inc. acquired a new position in shares of PennyMac Financial Services during the 2nd quarter worth about $163,940,000. Finally, Senvest Management LLC raised its position in shares of PennyMac Financial Services by 21.9% during the 1st quarter. Senvest Management LLC now owns 508,633 shares of the real estate investment trust’s stock worth $44,455,000 after purchasing an additional 91,300 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $63.79 on Wednesday. The company’s 50-day moving average price is $65.58 and its 200-day moving average price is $84.20. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market cap of $3.31 billion, a P/E ratio of 14.34 and a beta of 1.48. PennyMac Financial Services, Inc. has a twelve month low of $57.52 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.22). PennyMac Financial Services had a net margin of 11.72% and a return on equity of 8.20%. The business had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $531.77 million. During the same period in the prior year, the company posted $3.37 EPS. The firm’s revenue was down 25.9% on a year-over-year basis. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 5.78 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, November 16th. PennyMac Financial Services’s payout ratio is currently 26.97%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFSI. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Wall Street Zen lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods cut PennyMac Financial Services from a “moderate buy” rating to a “hold” rating and reduced their target price for the company from $100.00 to $80.00 in a report on Monday. Barclays decreased their target price on PennyMac Financial Services from $71.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company decreased their target price on PennyMac Financial Services from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Hold” and a consensus target price of $88.71.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.