PennyMac Financial Services, Inc. $PFSI Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 210.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 43,605 shares of the real estate investment trust’s stock after acquiring an additional 29,557 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PennyMac Financial Services were worth $3,811,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hudson Bay Capital Management LP purchased a new position in PennyMac Financial Services in the third quarter valued at about $5,593,000. 140 Summer Partners LP bought a new stake in shares of PennyMac Financial Services in the third quarter worth $55,268,000. Norges Bank acquired a new position in PennyMac Financial Services in the fourth quarter worth about $44,287,000. Clough Capital Partners L P acquired a new position in PennyMac Financial Services in the fourth quarter valued at approximately $5,391,000. Finally, M&T Bank Corp acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth approximately $5,095,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PFSI stock traded down $1.13 during midday trading on Tuesday, reaching $82.62. 186,815 shares of the company were exchanged, compared to its average volume of 708,708. The company’s 50 day moving average price is $85.07 and its two-hundred day moving average price is $100.08. The company has a market cap of $4.29 billion, a P/E ratio of 8.78, a PEG ratio of 0.56 and a beta of 1.44. PennyMac Financial Services, Inc. has a 12 month low of $77.67 and a 12 month high of $160.36. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The company had revenue of $544.98 million for the quarter, compared to analyst estimates of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. PennyMac Financial Services’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. On average, sell-side analysts expect that PennyMac Financial Services, Inc. will post 10.43 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 18th. PennyMac Financial Services’s payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lowered PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $107.00 to $93.00 in a research report on Tuesday. Stephens started coverage on PennyMac Financial Services in a research note on Friday, April 24th. They issued an “equal weight” rating and a $100.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Zacks Research lowered shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $114.62.

Insider Activity

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the completion of the sale, the chief executive officer directly owned 60,604 shares of the company’s stock, valued at approximately $5,332,545.96. This represents a 14.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the transaction, the chief financial officer directly owned 210,625 shares in the company, valued at $18,429,687.50. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,045 shares of company stock worth $2,493,770 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.