PennyMac Financial Services Inc
PFSI
ISIN US70932M1071 / Valor 44543808
PennyMac Financial Services Inc
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About company
PennyMac Financial Services, Inc. is a specialty financial services firm that focuses on the production and servicing of U.S. mortgage loans, as well as managing investments related to the U.S. mortgage market. The company also serves as the external manager of PennyMac Mortgage Investment Trust, a publicly-traded mortgage real estate investment trust. Through its Pennymac Correspondent Group, the company specializes in acquiring newly originated U.S. residential home loans from various financial institutions. With over $450 billion in servicing on its platform, PennyMac has established itself as a leading correspondent investor in the market, offering an efficient purchase process and top-notch servicing experience to its clients.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (26.12.2024):
Net Income and Revenue
PennyMac Financial Services Inc. reported a net income of $69.4 million for the third quarter of 2024, translating to $1.30 per share on a diluted basis. The company's revenue for the same period was $411.8 million. This performance reflects the company's ability to maintain profitability amidst varying market conditions.
Dividend Declaration
The Board of Directors of PennyMac Financial Services Inc. declared a cash dividend of $0.30 per share for the third quarter of 2024. This dividend is payable on November 27, 2024, to common stockholders of record as of November 18, 2024, demonstrating the company's commitment to returning value to its shareholders.
Production Segment Performance
The Production segment of PennyMac Financial Services Inc. saw a significant increase in pretax income, reaching $107.9 million in the third quarter of 2024. This is a substantial rise from $41.3 million in the previous quarter and $25.2 million in the third quarter of 2023, driven by higher volumes across all channels, particularly in the consumer direct channel.
Servicing Segment Results
The Servicing segment experienced a pretax loss of $14.6 million in the third quarter of 2024, a decline from the pretax income of $88.5 million in the prior quarter. Despite this, the servicing portfolio grew to $648.1 billion in unpaid principal balance, up 2 percent from June 30, 2024, and 10 percent from September 30, 2023, indicating robust growth in servicing volumes.
Outlook and Strategic Focus
PennyMac Financial Services Inc. remains optimistic about its future performance, with expectations of continued strong financial results. The company anticipates annualized operating returns on equity in the high-teens to low-twenties, supported by the growth of its servicing portfolio and a low-cost structure. The strategic focus on technology and operational enhancements positions the company to capitalize on opportunities in the loan production market.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
5278 M
Market cap (USD)
91,894
Daily traded volume (Shares)
103.62 / 102.07
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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