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

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 1,320,000 shares, a decline of 24.1% from the September 30th total of 1,740,000 shares. Based on an average trading volume of 284,100 shares, the days-to-cover ratio is presently 4.6 days. Approximately 2.7% of the company's shares are sold short.

PennyMac Financial Services Stock Performance

NYSE PFSI traded down $0.20 during trading on Friday, reaching $100.88. The company's stock had a trading volume of 295,570 shares, compared to its average volume of 256,730. The business's fifty day moving average price is $107.79 and its 200-day moving average price is $98.32. PennyMac Financial Services has a twelve month low of $62.75 and a twelve month high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 0.63 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data 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 15.28%. The company had revenue of $411.83 million for the quarter, compared to analysts' expectations of $513.12 million. During the same period in the prior year, the company earned $1.77 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. As a group, analysts anticipate that PennyMac Financial Services will post 11.22 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services's dividend payout ratio (DPR) is presently 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, insider Steven Richard Bailey sold 14,130 shares of the firm's 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Steven Richard Bailey sold 14,130 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now owns 14,670 shares of the company's stock, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the transaction, the chief executive officer now owns 210,604 shares of the company's stock, valued at approximately $20,915,083.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,855 shares of company stock valued at $9,647,599 in the last three months. 16.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its holdings in shares of PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 109 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of PennyMac Financial Services by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust's stock worth $3,087,000 after acquiring an additional 232 shares in the last quarter. MorganRosel Wealth Management LLC grew its holdings in shares of PennyMac Financial Services by 2.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust's stock worth $985,000 after acquiring an additional 236 shares during the period. Blue Trust Inc. increased its stake in PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 262 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in PennyMac Financial Services by 2.9% during the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust's stock worth $1,135,000 after purchasing an additional 336 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PFSI. Wedbush restated an "outperform" rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday. Piper Sandler raised their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 target price for the company. in a report on Monday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services currently has an average rating of "Moderate Buy" and an average price target of $115.86.

About PennyMac Financial Services

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.