PennyMac Mortgage CAO Hendry disposes of $19,209 in shares

Chief Accounting Officer Gregory L. Hendry of PennyMac Mortgage Investment Trust disposed of 2,444 shares of company common stock worth $19,209 on October 1, 2026. The sale was made via an automated Rule 10b5-1 trading plan adopted by Hendry on March 20, 2026. Following the transaction, Hendry still holds 4,886 shares in the company.

PennyMac Mortgage shares are currently trading near their 52-week low of $7.64, marking a 33% decline year-to-date. Despite this, the stock appears undervalued at its present price and is categorized as oversold based on RSI indicators. PennyMac maintains a strong dividend yield of 20.51% and has been paying dividends consistently for 17 years.

In another development, PennyMac reported second-quarter 2026 earnings that fell short of analyst expectations. The company reported diluted earnings per share of $0.23, below the projected $0.31, with net income at $20 million. The trust repositioned capital from lower-return mortgage servicing rights to higher-yielding credit-sensitive investments.

Following the earnings release, UBS adjusted its price target for PennyMac shares to $10.00, maintaining a Neutral rating. The bank also revised its core earnings per share estimates for 2026 and 2027. Deutsche Bank upgraded the stock rating to Buy from Hold, setting a price target of $12.00, based on the decreasing stock valuation.

These events indicate ongoing changes in the company's strategy and market valuation. This report is AI-generated and reviewed by an editor.