PennyMac Financial Services, Inc. (NYSE:PFSI) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 2,540,000 shares, a decrease of 17.8% from the March 31st total of 3,090,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 921,600 shares, the short-interest ratio is currently 2.8 days.
Several research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 target price (down previously from $75.00) on shares of PennyMac Financial Services in a research report on Thursday, March 25th. Zacks Investment Research raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, April 29th. Wedbush reiterated an “outperform” rating on shares of PennyMac Financial Services in a report on Monday, February 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price target (down from $77.00) on shares of PennyMac Financial Services in a report on Tuesday, April 13th. Finally, Piper Sandler increased their price objective on shares of PennyMac Financial Services from $90.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, February 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.38.
In other news, CEO David Spector sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $66.84, for a total transaction of $1,002,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kurland Family Investments, Ll sold 41,750 shares of the company’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $62.76, for a total transaction of $2,620,230.00. Following the completion of the sale, the insider now owns 7,547,970 shares in the company, valued at approximately $473,710,597.20. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,166,474 shares of company stock worth $72,939,758 and sold 319,960 shares worth $19,799,413. 21.48% of the stock is currently owned by corporate insiders.
NYSE PFSI traded up $0.25 during trading hours on Tuesday, reaching $59.78. 408,064 shares of the company were exchanged, compared to its average volume of 898,629. The stock has a market capitalization of $4.14 billion, a P/E ratio of 3.51 and a beta of 1.22. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 2.76. PennyMac Financial Services has a 1 year low of $26.39 and a 1 year high of $70.99. The business’s 50 day simple moving average is $61.61 and its 200-day simple moving average is $60.44.
PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, February 4th. The real estate investment trust reported $5.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.92 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion. PennyMac Financial Services had a net margin of 42.70% and a return on equity of 54.29%. As a group, sell-side analysts anticipate that PennyMac Financial Services will post 20.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Friday, February 12th were given a $0.20 dividend. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.12. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, February 11th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 16.36%.
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. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.
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