Basswood Capital Management L.L.C. cut its position in shares of PennyMac Financial Services Inc (NYSE:PFSI) by 41.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,343,501 shares of the real estate investment trust’s stock after selling 936,391 shares during the quarter. PennyMac Financial Services accounts for about 1.7% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 14th biggest holding. Basswood Capital Management L.L.C. owned about 5.33% of PennyMac Financial Services worth $28,563,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc grew its stake in PennyMac Financial Services by 2.6% in the third quarter. Vanguard Group Inc now owns 1,900,582 shares of the real estate investment trust’s stock valued at $39,722,000 after purchasing an additional 48,802 shares in the last quarter. Vanguard Group Inc. grew its stake in PennyMac Financial Services by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,900,582 shares of the real estate investment trust’s stock valued at $39,722,000 after purchasing an additional 48,802 shares in the last quarter. Bayview Asset Management LLC bought a new position in PennyMac Financial Services in the fourth quarter valued at approximately $16,986,000. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in PennyMac Financial Services by 128.0% in the fourth quarter. Geode Capital Management LLC now owns 485,064 shares of the real estate investment trust’s stock valued at $10,312,000 after purchasing an additional 272,320 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.
A number of research firms have recently issued reports on PFSI. JMP Securities reaffirmed a “hold” rating on shares of PennyMac Financial Services in a research report on Wednesday, March 6th. Barclays set a $25.00 price objective on PennyMac Financial Services and gave the company a “buy” rating in a research report on Friday, December 14th. Finally, Zacks Investment Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PennyMac Financial Services presently has an average rating of “Hold” and an average target price of $23.00.
PFSI opened at $22.92 on Friday. PennyMac Financial Services Inc has a 12-month low of $18.77 and a 12-month high of $24.50. The company has a market capitalization of $568.01 million, a PE ratio of 8.85, a price-to-earnings-growth ratio of 0.80 and a beta of 0.45. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.27.
PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08. PennyMac Financial Services had a return on equity of 4.80% and a net margin of 8.91%. The company had revenue of $251.20 million during the quarter, compared to analysts’ expectations of $238.79 million. As a group, equities research analysts anticipate that PennyMac Financial Services Inc will post 2.81 earnings per share for the current fiscal year.
In other news, insider Anne Mccallion sold 20,837 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $22.83, for a total value of $475,708.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 70,500 shares of company stock valued at $1,574,866. Insiders own 42.06% of the company’s stock.
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About PennyMac Financial Services
PennyMac Financial Services, Inc a specialty financial services company, engages in the mortgage banking and investment management activities in the United States. It is involved in the origination, acquisition, and sale of mortgage loans. The company originates first-lien residential conventional and government-insured or guaranteed mortgage loans to allow customers to purchase or refinance their homes.
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