Interval Partners LP Cuts Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Interval Partners LP cut its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 73.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,246 shares of the real estate investment trust’s stock after selling 8,908 shares during the quarter. Interval Partners LP’s holdings in PennyMac Financial Services were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PFSI. Blue Trust Inc. boosted its stake in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares during the period. TFO Wealth Partners LLC boosted its holdings in PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,141 shares during the period. SG Americas Securities LLC bought a new position in PennyMac Financial Services during the 1st quarter worth approximately $202,000. Finally, Cannon Global Investment Management LLC purchased a new position in PennyMac Financial Services in the 2nd quarter worth approximately $255,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFSI. Wedbush raised their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. Finally, Piper Sandler upped their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, PennyMac Financial Services has a consensus rating of “Hold” and a consensus price target of $107.17.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $111.69 on Wednesday. The company has a 50-day simple moving average of $103.21 and a two-hundred day simple moving average of $95.17. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $5.72 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.77. PennyMac Financial Services, Inc. has a one year low of $62.15 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The firm had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 10.61 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 41.67%.

Insider Activity

In related news, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the transaction, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the sale, the director now directly owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,355 shares of company stock worth $8,306,734. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services 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.