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

PennyMac Financial Services, Inc. (NYSE:PFSI) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 945,000 shares, a decline of 19.2% from the November 15th total of 1,170,000 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 277,800 shares, the short-interest ratio is presently 3.4 days.

PennyMac Financial Services Stock Performance

PFSI traded up $0.58 during trading on Monday, hitting $105.03. The company’s stock had a trading volume of 181,901 shares, compared to its average volume of 255,391. The business’s 50 day simple moving average is $104.73 and its 200-day simple moving average is $101.77. The firm has a market cap of $5.38 billion, a PE ratio of 33.16 and a beta of 1.78. PennyMac Financial Services has a one year low of $81.93 and a one year high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the business posted $1.77 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that PennyMac Financial Services will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at $4,904,403.60. The trade was a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 10,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total value of $1,167,900.00. Following the sale, the chief executive officer now directly owns 200,604 shares in the company, valued at $23,428,541.16. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,032 shares of company stock worth $6,889,012 in the last quarter. Corporate insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FORA Capital LLC purchased a new position in PennyMac Financial Services during the third quarter valued at approximately $616,000. XTX Topco Ltd purchased a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $614,000. Maverick Capital Ltd. boosted its holdings in PennyMac Financial Services by 263.8% in the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock worth $1,221,000 after buying an additional 9,357 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in PennyMac Financial Services in the 3rd quarter worth $24,644,000. Finally, Charles Schwab Investment Management Inc. increased its stake in PennyMac Financial Services by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after buying an additional 31,035 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

PennyMac Financial Services Company 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.