Pennymac Mortg Stock Price, News & Analysis

PennyMac Mortgage Investment Trust (NYSE: PMT) has declared cash dividends for Q1 2022 on its preferred shares. The dividends are as follows: Series A Preferred Shares (8.125%, $0.507813, record date March 1, 2022, payment date March 15, 2022), Series B Preferred Shares (8.000%, $0.500000, record date March 1, 2022, payment date March 15, 2022), and Series C Preferred Shares (6.750%, $0.421875, record date March 1, 2022, payment date March 15, 2022). This decision indicates ongoing confidence in the company's financial stability and commitment to returning value to shareholders.

PennyMac Financial Services reported a net income of $173.1 million for Q4 2021, equating to $2.79 per share, with revenues reaching $693.8 million. The book value per share rose to $60.11. However, pretax income saw a 31% decline from the previous quarter and a 62% decrease compared to Q4 2020. The company declared a $0.20 per share cash dividend payable on February 25, 2022. Notably, the production segment's pretax income fell 68% quarter-over-quarter, while the servicing segment saw a growth in pretax income, indicating mixed performance across segments.

PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net loss of $27.3 million for Q4 2021, equating to $(0.28) per diluted share, on net investment income of $49.5 million. This loss contrasts with a previous quarter's loss of $43.9 million. Noteworthy highlights include a cash dividend of $0.47 per share and a decline in book value per share to $19.05. The company's correspondent production volumes fell significantly, down 40% from Q3 2021. However, PMT witnessed robust performance in GSE CRT investments. Overall, net income for the full year was $56.9 million, up from $52.4 million in 2020.

PennyMac Mortgage Investment Trust (NYSE: PMT) will release its financial results for the quarter and year ending December 31, 2021, on February 3, 2022, after market close. The release will be accessible on their website. Additionally, company executives will provide a recorded presentation and accompanying slides, also available online at the time of the announcement. Investors seeking further information can contact the Investor Relations department.

PennyMac Financial Services, Inc. (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) have launched a new branding initiative, marking their fifteenth year in business. The updated brand identity reflects their commitment to customers as a homeownership partner.

The fresh logo represents forward momentum, while significant investments in marketing and technology aim to enhance the customer experience. With over $1 trillion in loans serviced, PennyMac claims the top position as a correspondent aggregator and is known for operational excellence in mortgage lending.

PennyMac Mortgage Investment Trust (NYSE: PMT) declared a cash dividend of $0.47 per common share for the fourth quarter of 2021. This dividend will be payable on January 31, 2022, to shareholders of record as of December 31, 2021. PMT focuses on investing in residential mortgage loans and related assets, managed externally by PNMAC Capital Management, a subsidiary of PennyMac Financial Services (NYSE: PFSI).

PennyMac Financial Services (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) announced that Andrew S. Chang will step down as Senior Managing Director and COO effective December 31, 2021. He will transition to a role as Special Advisor to the Chairman and CEO, David Spector. Spector praised Chang’s significant contributions since the company’s founding in 2008. In a regulatory filing, it was disclosed that Kurland Family Investments has sold most of its remaining shares of PFSI. As of September 30, 2021, PennyMac is a leading mortgage lender and servicer in the U.S.

PennyMac Mortgage Investment Trust (NYSE: PMT) has declared cash dividends for Q4 2021 on its preferred shares. The Series A Preferred Shares will pay $0.507813 per share, reflecting an annual dividend rate of 8.125%, with a record date of December 1, 2021, and payment date of December 15, 2021. The Series B shares will pay $0.500000 with the same record and payment dates, holding an 8.000% rate. Series C shares will provide $0.520310 per share at a 6.750% rate, also with payment dates aligned with the other series.

PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net loss of $43.9 million, or $(0.45) per share, for Q3 2021, marking a decline from a net income of $31.9 million in the previous quarter. Financial performance was impacted by the FHFA’s removal of the Adverse Market Refinance Fee, leading to a drop in fair value of mortgage servicing rights (MSRs). Although PMT raised $250 million from a public equity offering, book value per common share decreased to $19.79. The credit-sensitive strategies segment performed well, but the interest rate-sensitive strategies segment faced significant losses.