Pennymac Finl Svcs Inc Stock Price, News & Analysis

PennyMac Financial Services (NYSE: PFSI) has announced the pricing of its upsized private offering of $850 million Senior Notes due 2033, increased from the previously announced $650 million. The Notes will carry a 6.875% interest rate, payable semi-annually starting August 15, 2025, and will mature on February 15, 2033.

The Notes will be guaranteed by PFSI's existing and future wholly owned domestic subsidiaries. The proceeds will be used to repay certain indebtedness, including secured MSR facilities and potential repurchase of 5.375% senior notes due October 2025. The offering, expected to close on February 6, 2025, is exclusively available to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S of the Securities Act.

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced an underwritten public offering of senior notes due 2030. The notes will be guaranteed by PennyMac Corp. (PMC), the company's indirect wholly-owned subsidiary. The net proceeds will fund various business activities, including:

• Investment in subordinated bonds from private-label securitization activities
• Acquisition of mortgage servicing rights
• Funding correspondent lending business
• Repayment of other indebtedness
• General business purposes

The company plans to list the Notes on the NYSE under the symbol 'PMTV'. Multiple financial institutions, including Morgan Stanley, Goldman Sachs, RBC Capital Markets, and others, are serving as joint book-running managers for the offering.

PennyMac Financial Services (NYSE: PFSI) has announced plans to offer $650 million in Senior Notes due 2033. The Notes will be guaranteed on an unsecured senior basis by the company's existing and future wholly owned domestic subsidiaries, with certain exclusions.

The proceeds will be allocated to repay various forms of debt, including borrowings under secured MSR facilities and other secured indebtedness, as well as potentially repaying a portion of the company's 5.375% senior notes due October 2025. Additional funds will be used for general corporate purposes.

The offering will be conducted through private placement to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S of the Securities Act. The Notes will not be registered under the Securities Act or state securities laws.

PennyMac Mortgage Investment Trust (PMT) reported Q4 2024 net income of $36.1 million ($0.41 per share) on net investment income of $107.9 million. The company declared a Q4 cash dividend of $0.40 per share. Key highlights include:

- Book value per share increased to $15.87 from $15.85 in Q3 2024
- Correspondent loan production volumes totaled $3.5 billion, down 41% from Q3 but up 41% from Q4 2023
- Created $60 million in new mortgage servicing rights
- Closed two Agency-eligible investor loan securitizations totaling $822 million
- Generated $52 million in non-Agency subordinate bond investments

Full-year 2024 results showed net income of $161.0 million (versus $199.7 million in 2023), with net income attributable to common shareholders of $119.2 million ($1.37 per share). Annual dividends totaled $1.60 per share, while net investment income decreased to $334.2 million from $429.0 million in 2023.

PennyMac Financial Services (PFSI) reported Q4 2024 net income of $104.5 million ($1.95 per diluted share) on revenue of $470.1 million. Book value per share increased to $74.54 from $72.95 in Q3 2024.

Key Q4 highlights include: pretax income of $129.4 million, total loan acquisitions of $35.7 billion, and servicing portfolio growth to $665.8 billion. The company declared a quarterly dividend of $0.30 per share.

Full-year 2024 performance showed net income of $311.4 million, up from $144.7 million in 2023, with total loan production of $116.3 billion. The company issued $650 million in 6-year unsecured senior notes and increased its quarterly dividend by 50% from $0.20 previously.

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced it will release its fourth quarter and full-year 2024 financial results after market close on Thursday, January 30, 2025. The company will host a conference call and live audio webcast at 6:00 p.m. Eastern Time to discuss the results.

The earnings release, webcast, and related materials will be accessible on pmt.pennymac.com. A replay of the webcast will be made available after the event. Investors unable to access the website can request materials through the Investor Relations department at 818.224.7028.

PennyMac Financial Services (NYSE: PFSI) has scheduled the release of its fourth quarter and full-year 2024 financial results. The announcement will be made after market close on Thursday, January 30, 2025.

The company will host a conference call and live audio webcast at 5:00 p.m. Eastern Time on the same day to discuss the results. Investors can access the release, webcast, and related materials on pfsi.pennymac.com. A replay of the webcast will be available after the event. Those unable to access the website can contact Investor Relations at 818.224.7028 for materials.

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced a quarterly dividend declaration of $0.40 per common share for the fourth quarter of 2024. The dividend will be paid on January 24, 2025, to shareholders of record as of December 27, 2024.

PennyMac Financial Services, Inc. (NYSE: PFSI) reported net income of $69.4 million for Q3 2024, or $1.30 per share on a diluted basis, with revenue of $411.8 million. Key highlights include:

- Book value per share increased to $72.95 from $71.76 in Q2 2024
- Declared a Q3 cash dividend of $0.30 per share
- Pretax income was $93.9 million, down from previous quarters
- Production segment pretax income increased to $107.9 million
- Total loan acquisitions and originations reached $31.7 billion in UPB
- Servicing portfolio grew to $648.1 billion in UPB
- Investment Management segment pretax income was $0.7 million

The company reported strong performance in its production segment, with consumer direct and broker direct channels showing significant growth. However, the servicing segment experienced a pretax loss of $14.6 million due to MSR fair value declines.