PennyMac Financial Services, Inc., through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans. It sources first-lien residential conventional and government-insured or guaranteed mortgage loans. The Servicing segment engages in the servicing of newly originated loans, and execution and management of early buyout transactions and servicing of loans. It performs loan administration, collection, and default management activities, including the collection and remittance of loan payments; response to customer inquiries; accounting for principal and interest; holding custodial funds for the payment of property taxes and insurance premiums; counseling delinquent borrowers; and supervising foreclosures and property dispositions. The Investment Management segment is involved in sourcing, performing diligence, bidding, and closing investment asset acquisitions; managing correspondent production activities for PennyMac Mortgage Investment Trust; and managing acquired assets. The company was founded in 2008 and is headquartered in Westlake Village, California.
IPO Year: 2013
Exchange: NYSE
Website: ir.pennymacfinancial.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/22/2024 | $102.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 4/9/2024 | $100.00 → $105.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 1/10/2024 | Outperform → Mkt Perform | Keefe Bruyette | |
| 1/10/2024 | $115.00 | Buy | Deutsche Bank |
| 12/6/2023 | $85.00 | Neutral | UBS |
| 12/6/2023 | $13.50 | Neutral | UBS |
| 11/15/2023 | $82.00 | Overweight | Barclays |
| 10/2/2023 | $77.00 → $81.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 7/17/2023 | $85.00 | Buy | Jefferies |
| 1/18/2023 | Mkt Outperform → Mkt Perform | JMP Securities |
144 - PennyMac Financial Services, Inc. (0001745916) (Subject)
144 - PennyMac Financial Services, Inc. (0001745916) (Subject)
8-K - PennyMac Financial Services, Inc. (0001745916) (Filer)
10-Q - PennyMac Financial Services, Inc. (0001745916) (Filer)
8-K - PennyMac Financial Services, Inc. (0001745916) (Filer)
144 - PennyMac Financial Services, Inc. (0001745916) (Subject)
8-K - PennyMac Financial Services, Inc. (0001745916) (Filer)
144 - PennyMac Financial Services, Inc. (0001745916) (Subject)
144 - PennyMac Financial Services, Inc. (0001745916) (Subject)
8-K - PennyMac Financial Services, Inc. (0001745916) (Filer)
PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that its Board of Trustees has declared cash dividends for the fourth quarter of 2024 on its 8.125% Series A Preferred Shares (NYSE:PMT), its 8.000% Series B Preferred Shares (NYSE:PMT) and its 6.750% Series C Preferred Shares (NYSE:PMT). In accordance with the terms for each preferred series, the dividend information is as follows: Series Ticker Annual Dividend Rate Dividend Per Share Record Date Payment Date A PMT PRA 8.125% $0.507813 December 1, 2024* December 16, 202
PennyMac Mortgage Investment Trust (NYSE:PMT) today reported net income attributable to common shareholders of $31.0 million, or $0.36 per common share on a diluted basis for the third quarter of 2024, on net investment income of $80.9 million. PMT previously announced a cash dividend for the third quarter of 2024 of $0.40 per common share of beneficial interest, which was declared on September 19, 2024, and will be paid on October 25, 2024, to common shareholders of record as of October 11, 2024. Third Quarter 2024 Highlights Financial results: Net income attributable to common shareholders of $31.0 million; annualized return on average common equity of 9%1 Solid levels of income exc
PennyMac Financial Services, Inc. (NYSE:PFSI) today reported net income of $69.4 million for the third quarter of 2024, or $1.30 per share on a diluted basis, on revenue of $411.8 million. Book value per share increased to $72.95 from $71.76 at June 30, 2024. PFSI's Board of Directors declared a third quarter cash dividend of $0.30 per share, payable on November 27, 2024, to common stockholders of record as of November 18, 2024. Third Quarter 2024 Highlights Pretax income was $93.9 million, down from $133.9 million in the prior quarter and $126.8 million in the third quarter of 2023 Production segment pretax income was $107.9 million, up from $41.3 million in the prior quarter and $25
PennyMac Mortgage Investment Trust (NYSE:PMT) will announce results for the quarter ended September 30, 2024, in a news release to be issued after the market close on Tuesday, October 22, 2024. Management will host a conference call and live audio webcast at 6:00 p.m. Eastern Time to review the results. The release, webcast, and accompanying materials will be available online at pmt.pennymac.com. A replay of the webcast will be available shortly after its conclusion. Individuals who are unable to access the website but would like to receive a copy of the materials should contact our Investor Relations department at 818.224.7028. About PennyMac Mortgage Investment Trust PennyMac Mortgage
PennyMac Financial Services, Inc. (NYSE:PFSI) will announce results for the quarter ended September 30, 2024, in a news release to be issued after the market close on Tuesday, October 22, 2024. Management will also host a conference call and live audio webcast at 5:00 p.m. Eastern Time to review the results. The release, webcast, and accompanying materials will be available online at pfsi.pennymac.com. A replay of the webcast will be available shortly after its conclusion. Individuals who are unable to access the website but would like to receive a copy of the materials should contact our Investor Relations department at 818.224.7028. About PennyMac Financial Services, Inc. PennyMac Fin
PennyMac Financial Services, Inc. (NYSE:PFSI) and PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that William Chang is stepping down from his positions as Senior Managing Director and Chief Capital Markets Officer for PFSI and Senior Managing Director and Chief Investment Officer for PMT, in order to pursue other interests in the mortgage banking industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241003575494/en/ In April of last year Pennymac hired industry veteran Mark Elbaum to leverage the platform it built to drive additional value for the company through strategic initiatives. Mr. Elbaum has held leader
PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that its Board of Trustees declared a cash dividend of $0.40 per common share of beneficial interest for the third quarter of 2024. This dividend will be paid on October 25, 2024, to common shareholders of record as of October 11, 2024. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE:PFSI). Additional information about PennyMac Mortgage Investm
PennyMac Financial Services, Inc. (NYSE:PFSI) announced today that Sunil Chandra, a technology and financial services expert, has joined its Board of Directors and that James Hunt and Emily Youssouf will retire effective December 31, 2024. "I am extraordinarily grateful to both Jim and Emily for their long service on our Board of Directors, and for their ongoing commitment to and passion for our business," said Chairman and Chief Executive Officer David Spector. "Both joined our Board more than 10 years ago, serving on multiple different committees and helping to enable Pennymac's significant growth and transformation into a leading mortgage company. Their invaluable guidance, expertise,
PennyMac Financial Services, Inc. (NYSE:PFSI) announced today that it will present jointly with PennyMac Mortgage Investment Trust (NYSE:PMT) at the 2024 Barclays Global Financial Services Conference. Chairman and Chief Executive Officer David Spector and Senior Managing Director and Chief Financial Officer Daniel Perotti will participate in a fireside chat at 10:30 a.m. Eastern Time on Monday, September 9, 2024. A link to the live audio webcast will be available on PennyMac Financial Services, Inc.'s Investor Relations website at pfsi.pennymac.com. A replay of the webcast will be archived for a limited time. About PennyMac Financial Services, Inc. PennyMac Financial Services, Inc. is
PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that it will present jointly with PennyMac Financial Services, Inc. (NYSE:PFSI) at the 2024 Barclays Global Financial Services Conference. Chairman and Chief Executive Officer David Spector and Senior Managing Director and Chief Financial Officer Daniel Perotti will participate in a fireside chat at 10:30 a.m. Eastern Time on Monday, September 9, 2024. A link to the live audio webcast will be available on PennyMac Mortgage Investment Trust's Investor Relations website at pmt.pennymac.com. A replay of the webcast will be archived for a limited time. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
3 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
4 - PennyMac Financial Services, Inc. (0001745916) (Issuer)
PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that its Board of Trustees has declared cash dividends for the fourth quarter of 2024 on its 8.125% Series A Preferred Shares (NYSE:PMT), its 8.000% Series B Preferred Shares (NYSE:PMT) and its 6.750% Series C Preferred Shares (NYSE:PMT). In accordance with the terms for each preferred series, the dividend information is as follows: Series Ticker Annual Dividend Rate Dividend Per Share Record Date Payment Date A PMT PRA 8.125% $0.507813 December 1, 2024* December 16, 202
PennyMac Mortgage Investment Trust (NYSE:PMT) today reported net income attributable to common shareholders of $31.0 million, or $0.36 per common share on a diluted basis for the third quarter of 2024, on net investment income of $80.9 million. PMT previously announced a cash dividend for the third quarter of 2024 of $0.40 per common share of beneficial interest, which was declared on September 19, 2024, and will be paid on October 25, 2024, to common shareholders of record as of October 11, 2024. Third Quarter 2024 Highlights Financial results: Net income attributable to common shareholders of $31.0 million; annualized return on average common equity of 9%1 Solid levels of income exc
PennyMac Financial Services, Inc. (NYSE:PFSI) today reported net income of $69.4 million for the third quarter of 2024, or $1.30 per share on a diluted basis, on revenue of $411.8 million. Book value per share increased to $72.95 from $71.76 at June 30, 2024. PFSI's Board of Directors declared a third quarter cash dividend of $0.30 per share, payable on November 27, 2024, to common stockholders of record as of November 18, 2024. Third Quarter 2024 Highlights Pretax income was $93.9 million, down from $133.9 million in the prior quarter and $126.8 million in the third quarter of 2023 Production segment pretax income was $107.9 million, up from $41.3 million in the prior quarter and $25
PennyMac Mortgage Investment Trust (NYSE:PMT) will announce results for the quarter ended September 30, 2024, in a news release to be issued after the market close on Tuesday, October 22, 2024. Management will host a conference call and live audio webcast at 6:00 p.m. Eastern Time to review the results. The release, webcast, and accompanying materials will be available online at pmt.pennymac.com. A replay of the webcast will be available shortly after its conclusion. Individuals who are unable to access the website but would like to receive a copy of the materials should contact our Investor Relations department at 818.224.7028. About PennyMac Mortgage Investment Trust PennyMac Mortgage
PennyMac Financial Services, Inc. (NYSE:PFSI) will announce results for the quarter ended September 30, 2024, in a news release to be issued after the market close on Tuesday, October 22, 2024. Management will also host a conference call and live audio webcast at 5:00 p.m. Eastern Time to review the results. The release, webcast, and accompanying materials will be available online at pfsi.pennymac.com. A replay of the webcast will be available shortly after its conclusion. Individuals who are unable to access the website but would like to receive a copy of the materials should contact our Investor Relations department at 818.224.7028. About PennyMac Financial Services, Inc. PennyMac Fin
PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that its Board of Trustees declared a cash dividend of $0.40 per common share of beneficial interest for the third quarter of 2024. This dividend will be paid on October 25, 2024, to common shareholders of record as of October 11, 2024. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE:PFSI). Additional information about PennyMac Mortgage Investm
PennyMac Mortgage Investment Trust (NYSE:PMT) announced today that its Board of Trustees has declared cash dividends for the third quarter of 2024 on its 8.125% Series A Preferred Shares (NYSE:PMT), its 8.000% Series B Preferred Shares (NYSE:PMT) and its 6.750% Series C Preferred Shares (NYSE:PMT). In accordance with the terms for each preferred series, the dividend information is as follows: Series Ticker Annual Dividend Rate Dividend Per Share Record Date Payment Date A PMT PRA 8.125% $0.507813 September 1, 2024* September 16, 2024 B PMT PRB 8.000%
PennyMac Mortgage Investment Trust (NYSE:PMT) today reported net income attributable to common shareholders of $15.0 million, or $0.17 per common share on a diluted basis for the second quarter of 2024, on net investment income of $71.2 million. PMT previously announced a cash dividend for the second quarter of 2024 of $0.40 per common share of beneficial interest, which was declared on June 13, 2024, and will be paid on July 26, 2024, to common shareholders of record as of July 12, 2024. Second Quarter 2024 Highlights Financial results: Net income attributable to common shareholders of $15.0 million; annualized return on average common equity of 4%1 Strong levels of income excludi
PennyMac Financial Services, Inc. (NYSE:PFSI) today reported net income of $98.3 million for the second quarter of 2024, or $1.85 per share on a diluted basis, on revenue of $406.1 million. Book value per share increased to $71.76 from $70.13 at March 31, 2024. PFSI's Board of Directors declared a second quarter cash dividend of $0.30 per share, a 50 percent increase from the prior quarter, payable on August 23, 2024, to common stockholders of record as of August 13, 2024. Second Quarter 2024 Highlights Pretax income was $133.9 million, up from $43.9 million in the prior quarter and $72.9 million in the second quarter of 2023 Production segment pretax income was $41.3 million, up
PennyMac Financial Services, Inc. (NYSE:PFSI) will announce results for the quarter ended June 30, 2024, in a news release to be issued after the market close on Tuesday, July 23, 2024. Management will also host a conference call and live audio webcast at 5:00 p.m. Eastern Time to review the results. The release, webcast, and accompanying materials will be available online at pfsi.pennymac.com. A replay of the webcast will be available shortly after its conclusion. Individuals who are unable to access the website but would like to receive a copy of the materials should contact our Investor Relations department at 818.224.7028. About PennyMac Financial Services, Inc. PennyMac Financi
Wedbush analyst Jay McCanless maintains PennyMac Financial Servs (NYSE:PFSI) with a Outperform and raises the price target from $110 to $120.
Piper Sandler analyst Kevin Barker maintains PennyMac Financial Servs (NYSE:PFSI) with a Overweight and raises the price target from $110 to $112.
PennyMac Financial Servs (NYSE:PFSI) reported quarterly sales of $406.127 million which missed the analyst consensus estimate of $466.567 million by 12.95 percent. This is a 20.67 percent increase over sales of $336.547 million the same period last year.
Keefe, Bruyette & Woods analyst George Bose downgrades PennyMac Financial Servs (NYSE:PFSI) from Outperform to Market Perform and maintains the price target from $102 to $102.
Ratings for PennyMac Financial Servs (NYSE:PFSI) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 0 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 2 0 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $106.0, along with a high estimate of $112.00 and a low estimate of $100.00. This current average represe
Keefe, Bruyette & Woods analyst George Bose maintains PennyMac Financial Servs (NYSE:PFSI) with a Outperform and raises the price target from $100 to $102.
This collaboration marks a significant milestone in the commitment Pennymac has made to support military veterans as they transition into the civilian workforce.
Shares of U.S.-listed mortgage lenders have risen on the heels of U.S. regulators allowing the Federal Home Loan Mortgage Corp (OTC:FMCC), aka Freddie Mac, to buy second mortgages, a move that could lower the cost of borrowing against home equity. The Federal Housing Finance Authority (FHFA) said Freddie Mac could buy up to $2.5 billion of second mortgages over an 18-month trial period, Bloomberg reported. FHFA will then decide whether the pilot program helps borrowers in rural and underserved communities obtain them, among other criteria. Freddie Mac proposed backing second mortgages in April after the steep jump in home loan rates over the past two years. When rates were lower, a hom
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Top Mortgage Lender Appoints Business and Technology Executive to Lead Key Efforts in Technology Solutions, While Providing a Superb Customer Experience for its Correspondent and Broker Partners PennyMac Financial Services, Inc. (NYSE:PFSI) (Pennymac) announced today the appointment of Jerry Halbrook as the organization's Chief Mortgage Innovation Officer. With decades of Fintech experience, Mr. Halbrook will develop and launch new technology solutions, preparing the company for future innovations while enhancing Pennymac's business model. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221003005240/en/Jerry Halbrook, Chief Mortg
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the appointment of Doug Jones as President and Chief Mortgage Banking Officer. Mr. Jones had previously served as the Company’s Senior Managing Director and Chief Mortgage Banking Officer, as well as President of PennyMac Loan Services, the Company’s mortgage banking subsidiary. In his new role, Mr. Jones continues to be responsible for all activities relating to the Company’s loan production and loan servicing businesses. “I am pleased to announce this promotion for Doug, which reflects the Company’s continued focus on succession planning,” said PFSI Chairman and CEO David A
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) today announced the appointment of Doug Jones as President and Chief Mortgage Banking Officer, in conjunction with a similar announcement today by PennyMac Financial Services, Inc. (NYSE: PFSI), PMT’s manager and service provider. Mr. Jones had previously served as PMT’s Senior Managing Director and Chief Mortgage Banking Officer. In his new role, Mr. Jones continues to be responsible for all activities relating to the Company’s loan production and loan servicing businesses. “I am pleased to announce this promotion for Doug, which reflects the Company’s continued focus on succession planning,”
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the appointment of David A. Spector as Chairman of the Board. Mr. Spector will continue to serve as Chief Executive Officer. The company also announced that Jonathon S. Jacobson, Founder of HighSage Ventures, has joined the Board of Directors. “I am honored that the Board has entrusted me with this additional responsibility, and I am excited to continue leading this great company forward,” said PFSI Chairman and CEO David A. Spector. “I am also pleased to announce that Jon Jacobson has agreed to join our Board. As an original sponsor of PennyMac when it was founded in 2008, J
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) today announced the appointment of David A. Spector as Chairman of the Board. Mr. Spector will continue to serve as Chief Executive Officer. “I am honored that the Board has entrusted me with this additional responsibility, and I am excited to continue leading this great company forward,” said PMT Chairman and CEO David A. Spector. “I would also like to take this opportunity to thank the Board and its Independent Lead Trustee, Preston DuFauchard, for their continued leadership, especially through the unique challenges of the past year.” About PennyMac Mortgage Investment Trust PennyMac Mortg
Keefe Bruyette downgraded PennyMac from Outperform to Mkt Perform and set a new price target of $102.00
Keefe Bruyette upgraded PennyMac from Mkt Perform to Outperform and set a new price target of $105.00 from $100.00 previously
Keefe Bruyette downgraded PennyMac from Outperform to Mkt Perform
Deutsche Bank initiated coverage of PennyMac with a rating of Buy and set a new price target of $115.00
UBS initiated coverage of PennyMac with a rating of Neutral and set a new price target of $85.00
UBS initiated coverage of PennyMac with a rating of Neutral and set a new price target of $13.50
Barclays initiated coverage of PennyMac with a rating of Overweight and set a new price target of $82.00
Keefe Bruyette upgraded PennyMac from Mkt Perform to Outperform and set a new price target of $81.00 from $77.00 previously
Jefferies initiated coverage of PennyMac with a rating of Buy and set a new price target of $85.00
JMP Securities downgraded PennyMac from Mkt Outperform to Mkt Perform