PennyMac Financial Services, Inc. (NYSE:PFSI) Short Interest Down 19.2% in November

PennyMac Financial Services, Inc. (NYSE:PFSI) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 945,000 shares, a drop of 19.2% from the November 15th total of 1,170,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average trading volume of 277,800 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Barclays boosted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Piper Sandler boosted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.50.

PennyMac Financial Services Trading Up 0.6 %

NYSE PFSI traded up $0.58 during trading on Monday, hitting $105.03. The company had a trading volume of 181,901 shares, compared to its average volume of 255,391. The company’s fifty day moving average is $104.73 and its 200-day moving average is $101.77. PennyMac Financial Services has a one year low of $81.93 and a one year high of $119.13. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 33.16 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (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 company had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the firm earned $1.77 EPS. PennyMac Financial Services’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict that PennyMac Financial Services will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the completion of the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at approximately $26,651,141.21. The trade was a 4.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.79, for a total value of $1,167,900.00. Following the transaction, the chief executive officer now owns 200,604 shares in the company, valued at approximately $23,428,541.16. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,032 shares of company stock worth $6,889,012 over the last ninety days. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently made changes to their positions in PFSI. SG Americas Securities LLC lifted its position in PennyMac Financial Services by 36.9% during the 2nd quarter. SG Americas Securities LLC now owns 3,040 shares of the real estate investment trust’s stock valued at $288,000 after acquiring an additional 820 shares during the period. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of PennyMac Financial Services by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock worth $17,240,000 after purchasing an additional 4,930 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PennyMac Financial Services by 10.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,554 shares of the real estate investment trust’s stock worth $904,000 after buying an additional 935 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its position in PennyMac Financial Services by 25.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 59,293 shares of the real estate investment trust’s stock valued at $5,609,000 after buying an additional 11,964 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

About PennyMac Financial Services

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.