Tower Research Capital LLC TRC Acquires New Holdings in PennyMac Financial Services Inc (NYSE:PFSI)

Share on StockTwits

Tower Research Capital LLC TRC bought a new stake in PennyMac Financial Services Inc (NYSE:PFSI) during the first quarter, HoldingsChannel.com reports. The fund bought 3,104 shares of the real estate investment trust’s stock, valued at approximately $69,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in PennyMac Financial Services by 2.3% in the 1st quarter. Invesco Ltd. now owns 202,086 shares of the real estate investment trust’s stock valued at $4,468,000 after purchasing an additional 4,471 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in PennyMac Financial Services by 18.1% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 5,880 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 900 shares in the last quarter. Two Sigma Investments LP lifted its holdings in PennyMac Financial Services by 681.4% in the 1st quarter. Two Sigma Investments LP now owns 96,691 shares of the real estate investment trust’s stock valued at $2,138,000 after purchasing an additional 84,317 shares in the last quarter. Two Sigma Advisers LP purchased a new position in PennyMac Financial Services in the 1st quarter valued at about $701,000. Finally, Basswood Capital Management L.L.C. lifted its holdings in PennyMac Financial Services by 266.7% in the 1st quarter. Basswood Capital Management L.L.C. now owns 894,162 shares of the real estate investment trust’s stock valued at $19,770,000 after purchasing an additional 650,321 shares in the last quarter. Institutional investors own 53.49% of the company’s stock.

NYSE PFSI opened at $40.87 on Wednesday. PennyMac Financial Services Inc has a one year low of $13.14 and a one year high of $43.14. The company’s 50 day moving average price is $35.69 and its 200 day moving average price is $32.12. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 5.08 and a beta of 1.16.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $3.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.62. PennyMac Financial Services had a net margin of 33.47% and a return on equity of 32.19%. The firm had revenue of $721.83 million for the quarter, compared to analyst estimates of $664.45 million. Sell-side analysts forecast that PennyMac Financial Services Inc will post 11.83 EPS for the current fiscal year.

In other PennyMac Financial Services news, Director Stanford L. Kurland sold 15,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $40.94, for a total value of $614,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 9,232 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $27.07, for a total transaction of $249,910.24. The disclosure for this sale can be found here. Insiders sold 339,258 shares of company stock worth $11,637,549 in the last 90 days. 21.48% of the stock is currently owned by insiders.

A number of research firms have issued reports on PFSI. JMP Securities upped their target price on shares of PennyMac Financial Services from $25.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Wells Fargo & Co reiterated a “buy” rating on shares of PennyMac Financial Services in a report on Friday, May 8th. Barclays increased their price objective on shares of PennyMac Financial Services from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Credit Suisse Group increased their price objective on shares of PennyMac Financial Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.75.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

Read More: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Want to see what other hedge funds are holding PFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Financial Services Inc (NYSE:PFSI).

Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

InnerWorkings  & CardioGenics  Head-To-Head Contrast
InnerWorkings & CardioGenics Head-To-Head Contrast
Head to Head Analysis: Castlight Health  vs. JMU Ltd-
Head to Head Analysis: Castlight Health vs. JMU Ltd-
Financial Comparison: ChampionX  vs. Ecosphere Technologies
Financial Comparison: ChampionX vs. Ecosphere Technologies
Financial Survey: Mimecast  versus Cloudflare
Financial Survey: Mimecast versus Cloudflare
Analyzing Curaegis Technologies  & American Axle & Manufact.
Analyzing Curaegis Technologies & American Axle & Manufact.
Bloom Energy Corp  Expected to Post Quarterly Sales of $168.93 Million
Bloom Energy Corp Expected to Post Quarterly Sales of $168.93 Million


© 2006-2020 Ticker Report