PennyMac Financial cut at KBW on valuation (PFSI:NYSE)

Core Viewpoint - PennyMac Financial Services (NYSE:PFSI) is experiencing a decline in stock price following a downgrade by Keefe, Bruyette & Woods, which reflects concerns over the stock's valuation [1] Group 1: Stock Performance - Shares of PennyMac Financial Services fell by 1.34% during Tuesday morning trading, reaching a price of $116.75 [1] Group 2: Market Context - The downgrade comes despite a decline in mortgage rates, as reported by Freddie Mac [1]