Basswood Capital Management L.L.C. Has $52.24 Million Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Basswood Capital Management L.L.C. lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,332 shares of the real estate investment trust’s stock after purchasing an additional 165 shares during the quarter. PennyMac Financial Services comprises 2.7% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 7th biggest holding. Basswood Capital Management L.L.C. owned about 0.89% of PennyMac Financial Services worth $52,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares during the last quarter. KBC Group NV boosted its stake in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares during the last quarter. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services in the third quarter valued at approximately $37,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the sale, the chief financial officer now directly owns 225,497 shares in the company, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Gregory L. Hendry sold 3,032 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the transaction, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,162 shares of company stock worth $7,491,026. Company insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the subject of several recent research reports. Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.86.

PennyMac Financial Services Stock Up 0.2 %

PFSI opened at $107.13 on Monday. PennyMac Financial Services, Inc. has a twelve month low of $77.08 and a twelve month high of $119.13. The company’s 50-day moving average price is $105.96 and its two-hundred day moving average price is $100.75. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 34.01 and a beta of 1.79. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the previous year, the company posted $1.77 EPS. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

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.