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

PennyMac Financial Services, Inc. (NYSE:PFSI) saw a large 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 company are short sold. Based on an average daily trading volume, of 277,800 shares, the short-interest ratio is presently 3.4 days.

Insiders Place Their Bets

In related news, CEO David Spector sold 10,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00. Following the sale, the chief executive officer now owns 200,604 shares in the company, valued at $23,428,541.16. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The trade was a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,162 shares of company stock valued at $8,540,526 in the last quarter. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PFSI. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services in the third quarter worth approximately $37,000. Blue Trust Inc. grew its position in PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. KBC Group NV lifted its holdings in shares of PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of PennyMac Financial Services during the third quarter valued at $203,000. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

PFSI has been the subject of a number of recent research reports. Piper Sandler upped their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday. Wedbush restated an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.50.

PennyMac Financial Services Price Performance

Shares of PFSI stock traded down $0.62 during midday trading on Friday, reaching $104.45. 160,390 shares of the company were exchanged, compared to its average volume of 255,696. The company’s 50 day moving average price is $104.73 and its two-hundred day moving average price is $101.60. The company has a market cap of $5.35 billion, a P/E ratio of 33.16 and a beta of 1.78. PennyMac Financial Services has a 12 month low of $81.93 and a 12 month high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38.

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 the consensus estimate of $2.92 by ($1.62). The firm had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. On average, sell-side analysts expect that PennyMac Financial Services will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

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.