Published on 5 Feb 2024 on GuruFocus.com via Yahoo Finance
PennyMac Financial Services Inc Reports Q4 and Full-Year 2023 Results
Net Loss: PennyMac Financial Services Inc (NYSE:PFSI) reported a net loss of $36.8 million for Q4 2023.Revenue: Q4 revenue stood at $361.9 million.Book Value: Book value per share decreased to $70.52 from $71.56 at the end of the previous quarter.Dividend: A cash dividend of $0.20 per share has been declared for Q4.Loan Production: Total loan production activity for the quarter was $26.7 billion in UPB.Servicing Portfolio: The total servicing portfolio grew to $607.2 billion in UPB, a 10% increase from the previous year.
Warning! GuruFocus has detected 12 Warning Signs with PFSI.
PennyMac Financial Services Inc (NYSE:PFSI) released its 8-K filing on February 1, 2024, detailing a challenging fourth quarter and full-year 2023 performance. The company, a leading entity in the mortgage lending and servicing industry, operates through three segments: production, servicing, and investment management. Despite the hurdles faced in the mortgage market, PFSI's mortgage banking business, which includes mortgage loan origination, acquisition, and sale activities, remains a significant revenue generator.