PennyMac Financial Services, Inc. (NYSE:PFSI) Short Interest Update


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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.

Several hedge funds and other institutional investors have recently modified their holdings of PFSI. IFP Advisors Inc grew its stake in shares of PennyMac Financial Services by 68.3% during the 4th quarter. IFP Advisors Inc now owns 1,003 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 407 shares during the period. CI Investments Inc. bought a new position in PennyMac Financial Services during the fourth quarter worth about $81,000. Perigon Wealth Management LLC purchased a new position in shares of PennyMac Financial Services in the fourth quarter worth about $86,000. US Bancorp DE raised its position in shares of PennyMac Financial Services by 17.0% in the fourth quarter. US Bancorp DE now owns 1,341 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 195 shares during the period. Finally, Princeton Global Asset Management LLC lifted its stake in shares of PennyMac Financial Services by 100.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 2,000 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 1,000 shares in the last quarter. 51.72% of the stock is currently owned by hedge funds and other institutional investors.

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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