PennyMac Financial Services, Inc. (NYSE:PFSI) Short Interest Down 20.7% in May

PennyMac Financial Services, Inc. (NYSE:PFSI) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 856,100 shares, a decline of 20.7% from the May 15th total of 1,080,000 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average trading volume of 224,600 shares, the days-to-cover ratio is currently 3.8 days.

Insider Activity

In other PennyMac Financial Services news, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction on Monday, March 25th. The shares were sold at an average price of $89.44, for a total value of $470,007.20. Following the transaction, the insider now directly owns 27,084 shares in the company, valued at $2,422,392.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer now directly owns 230,604 shares of the company’s stock, valued at approximately $20,883,498.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek Stark sold 5,255 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total transaction of $470,007.20. Following the transaction, the insider now owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The disclosure for this sale can be found here. Insiders have sold 93,120 shares of company stock valued at $8,501,777 in the last ninety days. 16.60% of the stock is currently owned by company insiders.

Institutional Trading of PennyMac Financial Services

A number of hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its position in PennyMac Financial Services by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after buying an additional 1,190 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of PennyMac Financial Services during the 1st quarter worth about $1,785,000. CANADA LIFE ASSURANCE Co boosted its position in shares of PennyMac Financial Services by 3.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust’s stock worth $2,134,000 after acquiring an additional 689 shares during the last quarter. Cynosure Group LLC purchased a new stake in PennyMac Financial Services in the first quarter valued at approximately $323,000. Finally, Edgestream Partners L.P. raised its stake in PennyMac Financial Services by 349.5% during the first quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock worth $2,166,000 after purchasing an additional 18,485 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PFSI shares. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft cut their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Barclays boosted their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Wedbush reissued an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.75.

PennyMac Financial Services Price Performance

Shares of PFSI traded down $1.29 during mid-day trading on Friday, reaching $91.44. 128,345 shares of the company’s stock were exchanged, compared to its average volume of 165,851. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $94.80. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a 50-day simple moving average of $90.29 and a two-hundred day simple moving average of $88.01. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 0.60 and a beta of 1.70.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. On average, sell-side analysts predict that PennyMac Financial Services will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.87%. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

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.