Zurcher Kantonalbank Zurich Cantonalbank Has $814,000 Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,214 shares of the real estate investment trust’s stock after buying an additional 1,138 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PennyMac Financial Services were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter worth $57,000. Saxon Interests Inc. bought a new position in shares of PennyMac Financial Services in the 4th quarter worth $208,000. Contravisory Investment Management Inc. acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $252,000. Handelsinvest Investeringsforvaltning bought a new stake in PennyMac Financial Services in the fourth quarter valued at about $285,000. Finally, Caxton Associates LP boosted its holdings in PennyMac Financial Services by 3.6% during the third quarter. Caxton Associates LP now owns 5,874 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 206 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Barclays boosted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.75.

PennyMac Financial Services Price Performance

PFSI stock opened at $87.37 on Tuesday. The stock has a 50-day moving average price of $87.81 and a two-hundred day moving average price of $83.40. PennyMac Financial Services, Inc. has a 1 year low of $56.16 and a 1 year high of $94.78. The stock has a market cap of $4.41 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. Equities analysts forecast that PennyMac Financial Services, Inc. will post 10.58 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be issued a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.92%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Insider Transactions at PennyMac Financial Services

In related news, insider James Follette sold 2,617 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the transaction, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider James Follette sold 2,617 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total transaction of $225,690.08. Following the completion of the transaction, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $90.72, for a total value of $907,200.00. Following the completion of the sale, the chief executive officer now directly owns 250,604 shares in the company, valued at approximately $22,734,794.88. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock valued at $7,666,108 over the last 90 days. 16.60% of the stock is owned by corporate insiders.

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.