PennyMac Financial Services Inc (NYSE:PFSI) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in PennyMac Financial Services Inc (NYSE:PFSI) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,163 shares of the real estate investment trust’s stock after purchasing an additional 31,508 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of PennyMac Financial Services worth $3,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC raised its position in shares of PennyMac Financial Services by 12.3% in the third quarter. Teachers Advisors LLC now owns 37,581 shares of the real estate investment trust’s stock valued at $785,000 after purchasing an additional 4,119 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PennyMac Financial Services by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 790,411 shares of the real estate investment trust’s stock valued at $16,520,000 after purchasing an additional 4,926 shares during the period. TD Asset Management Inc. raised its position in shares of PennyMac Financial Services by 20.4% in the fourth quarter. TD Asset Management Inc. now owns 31,290 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 5,300 shares during the period. Prudential Financial Inc. raised its position in shares of PennyMac Financial Services by 17.7% in the third quarter. Prudential Financial Inc. now owns 35,695 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 5,370 shares during the period. Finally, IndexIQ Advisors LLC raised its position in shares of PennyMac Financial Services by 5.9% in the third quarter. IndexIQ Advisors LLC now owns 102,244 shares of the real estate investment trust’s stock valued at $2,137,000 after purchasing an additional 5,670 shares during the period. Hedge funds and other institutional investors own 29.97% of the company’s stock.

In other news, insider Anne Mccallion sold 3,463 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $22.25, for a total value of $77,051.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Spector sold 39,940 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $22.60, for a total transaction of $902,644.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,140 shares of company stock valued at $2,867,579. Company insiders own 22.17% of the company’s stock.

NYSE:PFSI traded up $0.14 during mid-day trading on Friday, hitting $23.01. 223,707 shares of the stock traded hands, compared to its average volume of 208,219. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 1.64. PennyMac Financial Services Inc has a 12-month low of $18.77 and a 12-month high of $24.50. The stock has a market cap of $1.77 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.79 and a beta of 0.43.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). The business had revenue of $247.71 million during the quarter, compared to the consensus estimate of $246.88 million. PennyMac Financial Services had a return on equity of 6.57% and a net margin of 11.79%. On average, equities analysts forecast that PennyMac Financial Services Inc will post 2.9 earnings per share for the current fiscal year.

Several research firms have recently issued reports on PFSI. JMP Securities reissued a “hold” rating on shares of PennyMac Financial Services in a research report on Wednesday, March 6th. Wedbush reaffirmed an “outperform” rating on shares of PennyMac Financial Services in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.00.

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About PennyMac Financial Services

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.

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

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