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

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

PennyMac Financial Services Trading Down 0.6 %

Shares of NYSE PFSI traded down $0.62 during trading on Friday, reaching $104.45. The company had a trading volume of 160,390 shares, compared to its average volume of 255,696. The stock has a market cap of $5.35 billion, a P/E ratio of 33.16 and a beta of 1.78. The company’s fifty day moving average price is $104.73 and its 200-day moving average price is $101.68. 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 has a 12 month low of $81.93 and a 12 month high of $119.13.

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). 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 during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the company earned $1.77 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts expect 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. Investors of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $104.95, for a total value of $1,049,500.00. Following the transaction, the chief executive officer now owns 170,604 shares in the company, valued at $17,904,889.80. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,162 shares of company stock worth $8,540,526 over the last ninety days. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently bought and sold shares of the company. FORA Capital LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $616,000. Maverick Capital Ltd. lifted its stake in PennyMac Financial Services by 263.8% in the second quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 9,357 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $24,644,000. Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Financial Services by 7.5% during 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 during the period. Finally, American Century Companies Inc. increased its stake in shares of PennyMac Financial Services by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after acquiring an additional 40,676 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

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.