PennyMac Financial Services Inc (PFSI) Releases Earnings Results, Beats Expectations By $0.02 EPS

PennyMac Financial Services Inc (PFSI) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.65 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.63. The company posted revenue of $207.81 million in the period, compared to analysts expectations of $198.36 million. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on PennyMac Financial Services Inc. PennyMac Financial Services Inc was Upgraded by BofA/Merrill to ” Buy” on Jul 12, 2016.

PennyMac Financial Services Inc closed down -0.23 points or -1.76% at $12.82 with 40,493 shares getting traded on Tusday. Post opening the session at $13, the shares hit an intraday low of $12.78 and an intraday high of $13.082 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jun 15, 2016, Daniel Stanley Perotti (Chief Asset & Liability Mgt Of) sold 189 shares at $13.52 per share price. According to the SEC, on Jun 13, 2016, Gregory L Hendry (MD, Chief Accounting Officer) sold 141 shares at $13.90 per share price. On Dec 30, 2015, David M Walker (Chief Credit Officer) sold 6,138 shares at $16.15 per share price, according to the Form-4 filing with the securities and exchange commission.

PennyMac Financial Services Inc. (PFSI) is a specialty financial services firm. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production loan servicing (collectively mortgage banking) and investment management. PFSI’s principal mortgage banking subsidiary PennyMac Loan Services LLC (PLS) is a non-bank producer and servicer of mortgage loans in the United States. PLS services loans in 50 states of the United States the District of Columbia Guam and the United States Virgin Islands and originates loans in 49 states and the District of Columbia in the United States. The Company’s principal investment management subsidiary PNMAC Capital Management LLC (PCM) provides investment management services.

PennyMac Financial Services Inc

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