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James Follette, Chief Digital Officer at PennyMac Financial Services, Inc. (NYSE:PFSI), recently sold 755 shares of the company’s common stock. The shares were sold at a price of $102.75 each, amounting to a total value of $77,576. This transaction was conducted under a Rule 10b5-1 trading plan, which Follette adopted on May 15, 2024. The sale occurred near the stock’s current trading price of $101.79, with PFSI showing a market capitalization of $5.3 billion. According to InvestingPro analysis, the company trades at a P/E ratio of 16.9, with analyst targets ranging from $111 to $141 per share.
Following this sale, Follette holds 8,330 shares, which includes 7,338 restricted stock units that will convert to common stock upon vesting, and 992 shares of common stock. Prior to this sale, Follette also had 422 shares withheld for taxes upon the vesting of restricted share units, valued at $43,081, at a price of $102.09 per share. InvestingPro data shows PFSI maintains a "Fair" overall financial health score, with 12 additional key insights available to subscribers through their comprehensive Pro Research Report, part of the analysis available for 1,400+ US stocks.
In other recent news, PennyMac Financial Services Inc. reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company announced a diluted earnings per share (EPS) of $1.95, missing the forecasted $3.03, and revenue of $470.11 million, below the anticipated $531.7 million. Despite these misses, PennyMac demonstrated strong growth in its loan origination and servicing segments, with total loan originations reaching $36 billion, marking a 13% increase from the previous quarter. Additionally, the company has been active in managing its debt obligations, successfully closing an offering of $850 million in senior notes due 2033, and announcing plans for another $650 million senior notes offering. These financial maneuvers are part of PennyMac’s strategy to manage its debt portfolio and support general corporate activities. Analysts from Wells Fargo (NYSE:WFC) noted that the company’s future operating return on equity (ROE) is projected to remain in the mid to high teens for 2025, assuming a stable interest rate environment. Meanwhile, PennyMac continues to focus on technology and operational efficiency to drive growth and maintain its position in the market.
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