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WESTLAKE VILLAGE, Calif.—Mark Elbaum, the Chief Capital Markets Officer of PennyMac Financial Services, Inc. (NYSE:PFSI), a $5.3 billion market cap financial services company trading at a P/E ratio of 16.9, sold 83 shares of common stock on February 28, 2025. The shares were sold at a price of $102.09 each, amounting to a total transaction value of $8,473. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Following this sale, Elbaum holds 4,617 shares, which include 3,842 restricted stock units and 775 shares of common stock. The restricted stock units are set to be converted into common stock upon vesting. Analysts maintain a bullish outlook, with price targets ranging from $111 to $141.
This transaction was part of routine trading activity and reflects shares sold upon the vesting of restricted stock units. For comprehensive insider trading analysis and 10+ additional key insights about PFSI, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, PennyMac Financial Services reported its fourth-quarter 2024 earnings, revealing a diluted earnings per share (EPS) of $1.95, which fell short of the forecasted $3.03. The company’s revenue also missed expectations, coming in at $470.11 million against the anticipated $531.7 million. Despite these misses, PennyMac has been active in the debt market, successfully closing an offering of $850 million in senior notes due 2033. This move is part of their strategy to manage debt obligations and support corporate activities. Additionally, PennyMac announced plans to offer $650 million in senior notes, aimed at repaying certain debts and supporting general corporate purposes. The company continues to focus on growth, with total loan originations and acquisitions surging to $36 billion, marking a 13% increase from the previous quarter. Analysts from Wells Fargo (NYSE:WFC) noted a downgrade in PennyMac’s 2025 guidance, reflecting current interest rate environments. PennyMac’s strategic financial maneuvers underscore its efforts to manage debt obligations and strengthen its financial position.
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