Clough Capital Partners L P Purchases Shares of 40,890 PennyMac Financial Services, Inc. $PFSI

Clough Capital Partners L P purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,890 shares of the real estate investment trust’s stock, valued at approximately $5,391,000. Clough Capital Partners L P owned about 0.08% of PennyMac Financial Services at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in PennyMac Financial Services by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,832,737 shares of the real estate investment trust’s stock valued at $373,468,000 after acquiring an additional 12,782 shares during the last quarter. Invesco Ltd. boosted its position in PennyMac Financial Services by 18.3% during the third quarter. Invesco Ltd. now owns 1,463,096 shares of the real estate investment trust’s stock valued at $181,248,000 after acquiring an additional 226,581 shares during the last quarter. 140 Summer Partners LP boosted its position in PennyMac Financial Services by 50.2% during the fourth quarter. 140 Summer Partners LP now owns 669,892 shares of the real estate investment trust’s stock valued at $88,319,000 after acquiring an additional 223,752 shares during the last quarter. Basswood Capital Management L.L.C. boosted its position in PennyMac Financial Services by 5.9% during the second quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock valued at $56,816,000 after acquiring an additional 31,743 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in PennyMac Financial Services by 7.5% during the third quarter. American Century Companies Inc. now owns 429,403 shares of the real estate investment trust’s stock valued at $53,195,000 after acquiring an additional 30,015 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

PFSI stock opened at $81.12 on Thursday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33. The business has a 50-day simple moving average of $87.16 and a two-hundred day simple moving average of $104.46. The company has a market capitalization of $4.21 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.54 and a beta of 1.44. PennyMac Financial Services, Inc. has a 52-week low of $77.67 and a 52-week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The company had revenue of $544.98 million during the quarter, compared to the consensus estimate of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. Research analysts expect that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.75%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PFSI shares. Wells Fargo & Company cut their price target on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Stephens started coverage on shares of PennyMac Financial Services in a report on Friday, April 24th. They set an “equal weight” rating and a $100.00 price objective on the stock. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Barclays dropped their price objective on shares of PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings lowered shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, PennyMac Financial Services presently has an average rating of “Hold” and an average target price of $117.13.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the completion of the sale, the chief executive officer owned 60,604 shares in the company, valued at approximately $5,332,545.96. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the sale, the chief financial officer owned 210,625 shares of the company’s stock, valued at approximately $18,429,687.50. This trade represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,925 shares of company stock worth $2,064,138 over the last three months. 15.80% of the stock is owned by insiders.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.