Interval Partners LP Cuts Stake in PennyMac Financial Services, Inc. $PFSI

Key Points

• Interval Partners LP has reduced its stake in PennyMac Financial Services, Inc. by 26.4%, owning 28,932 shares worth approximately $2.9 million after selling 10,388 shares.
• PennyMac Financial Services reported earnings of $1.02 per share for the last quarter, significantly missing the consensus estimate of $3.01.
• The company recently declared a quarterly dividend of $0.30 per share, with an annualized dividend yield of 1.0%.

Interval Partners LP trimmed its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 26.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,932 shares of the real estate investment trust's stock after selling 10,388 shares during the period. Interval Partners LP owned about 0.06% of PennyMac Financial Services worth $2,896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaQuest LLC raised its position in PennyMac Financial Services by 4.4% in the first quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust's stock worth $259,000 after acquiring an additional 110 shares during the period. CWM LLC increased its stake in shares of PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in shares of PennyMac Financial Services by 5.4% in the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 121 shares in the last quarter. State of Wyoming increased its stake in shares of PennyMac Financial Services by 7.1% in the first quarter. State of Wyoming now owns 6,407 shares of the real estate investment trust's stock worth $641,000 after purchasing an additional 427 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PennyMac Financial Services by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock worth $1,554,000 after buying an additional 606 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PFSI shares. Piper Sandler cut their target price on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. UBS Group lowered their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Barclays decreased their price objective on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of PennyMac Financial Services from $117.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, PennyMac Financial Services has an average rating of "Moderate Buy" and a consensus price target of $119.33.

PennyMac Financial Services Trading Up 5.0%

PennyMac Financial Services stock traded up $5.99 during trading on Thursday, hitting $126.33. The company had a trading volume of 244,160 shares, compared to its average volume of 382,139. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $126.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.03. The company's 50 day simple moving average is $103.90 and its 200-day simple moving average is $99.95. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 17.53 and a beta of 1.51.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($1.99). The company had revenue of $444.73 million during the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $1.85 EPS. As a group, analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Wednesday, August 13th were issued a $0.30 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. PennyMac Financial Services's payout ratio is 16.64%.

Insiders Place Their Bets

In other PennyMac Financial Services news, insider Derek Stark sold 4,750 shares of PennyMac Financial Services stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $109.56, for a total transaction of $520,410.00. Following the completion of the sale, the insider directly owned 20,621 shares of the company's stock, valued at $2,259,236.76. The trade was a 18.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $105.73, for a total transaction of $528,650.00. Following the completion of the transaction, the chief executive officer owned 130,604 shares of the company's stock, valued at approximately $13,808,760.92. The trade was a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,632 shares of company stock valued at $3,295,916 over the last quarter. Corporate insiders own 15.80% 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.