PennyMac Financial Services, Inc. (NYSE:PFSI) Sees Significant Drop in Short Interest


Share on StockTwits

PennyMac Financial Services, Inc. (NYSE:PFSI) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 2,540,000 shares, a decline of 17.8% from the March 31st total of 3,090,000 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average trading volume of 921,600 shares, the short-interest ratio is presently 2.8 days.

PFSI has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating on shares of PennyMac Financial Services in a report on Monday, February 1st. Piper Sandler lifted their target price on PennyMac Financial Services from $90.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. Zacks Investment Research raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 29th. Wells Fargo & Company reiterated an “equal weight” rating and set a $70.00 price objective (down previously from $75.00) on shares of PennyMac Financial Services in a report on Thursday, March 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 target price (down from $77.00) on shares of PennyMac Financial Services in a research note on Tuesday, April 13th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $82.38.

In other PennyMac Financial Services news, Director Emily Ann Youssouf sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $59.93, for a total transaction of $599,300.00. Also, CEO David Spector sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $66.84, for a total value of $1,002,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,166,474 shares of company stock valued at $72,939,758 and have sold 319,960 shares valued at $19,799,413. 21.48% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted 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. acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $81,000. Perigon Wealth Management LLC acquired a new stake in PennyMac Financial Services in the 4th quarter worth about $86,000. US Bancorp DE boosted its stake 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 buying an additional 195 shares during the period. Finally, Princeton Global Asset Management LLC grew its holdings 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 worth $131,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 51.72% of the company’s stock.

Shares of NYSE PFSI traded up $0.25 during mid-day trading on Tuesday, hitting $59.78. The company had a trading volume of 408,064 shares, compared to its average volume of 898,629. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 2.76. The firm has a 50-day simple moving average of $61.61 and a two-hundred day simple moving average of $60.44. The company has a market capitalization of $4.14 billion, a PE ratio of 3.51 and a beta of 1.22. PennyMac Financial Services has a one year low of $26.39 and a one year high of $70.99.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $5.97 EPS for the quarter, beating the consensus estimate of $5.92 by $0.05. PennyMac Financial Services had a return on equity of 54.29% and a net margin of 42.70%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion. Sell-side analysts expect that PennyMac Financial Services will post 20.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 25th. Investors of record on Friday, February 12th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.12. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 16.36%.

About PennyMac Financial Services

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.

See Also: Dividend Achievers

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.