PennyMac Financial’s chief legal officer sells $277,171 in stock

Derek Stark, the Chief Legal Officer of PennyMac Financial Services, Inc. (NYSE:PFSI), recently sold company stock worth $277,171, according to a recent SEC filing. The transactions took place on February 28 and March 4, 2025, with Stark selling a total of 2,698 shares. The sale price ranged from $101.52 to $103.07 per share. The stock, currently trading at $101.79, has shown a robust 19.6% return over the past year, though InvestingPro analysis indicates the company is currently trading above its Fair Value.

Following these transactions, Stark’s direct ownership of PennyMac stock stands at 25,621 shares. This includes 5,621 restricted stock units, which will convert to common shares upon vesting. The sales were part of routine transactions, with some shares withheld to cover tax obligations associated with restricted stock units. With a market capitalization of $5.3 billion and a P/E ratio of 16.9x, InvestingPro data reveals 10+ additional insights about PFSI’s valuation and growth prospects. Access the comprehensive Pro Research Report, available for 1,400+ US stocks, for detailed analysis of PFSI’s financial health and future outlook.

In other recent news, PennyMac Financial Services Inc. reported its fourth-quarter 2024 earnings, revealing a diluted earnings per share (EPS) of $1.95, which fell short of the projected $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 managing its debt, having recently closed an offering of $850 million in senior notes due 2033. This financial maneuver is aimed at repaying certain secured borrowings and supporting general corporate activities.

Additionally, PennyMac announced plans to offer $650 million of senior notes due 2033, with proceeds intended for repaying existing debts and other corporate purposes. The company continues to focus on strategic financial management, as highlighted by its robust growth in loan origination and servicing segments. Analysts from Wells Fargo (NYSE:WFC) noted a downgrade in the company’s 2025 guidance, reflecting a conservative outlook based on current interest rate environments. PennyMac’s management remains committed to operational efficiency and technology enhancements to drive future growth.

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