PennyMac Financial Services
Produces and services U.S. residential mortgages across correspondent, broker, and consumer-direct channels.
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Profile
Sources and originates U.S. residential mortgages through correspondent, broker-direct, and consumer-direct channels, earning loan-sale and fulfillment income before retaining many servicing rights. Owned servicing and subservicing generate fees, while the servicing portfolio supplies refinancing leads.
Produces prime-credit U.S. residential mortgages through Correspondent Production, Broker Direct Lending, and Consumer Direct Lending. Loans are sold or securitized, generally with servicing rights retained; fulfillment and investment-management work for PennyMac Mortgage Investment Trust adds fee income. Production replenishes owned servicing assets, while the servicing portfolio supplies leads for direct refinancing.
Services owned mortgage servicing rights and subservices loans for PMT and other institutions, including payment, escrow, collection, and default administration. A pending acquisition of Cenlar’s subservicing business would materially expand this fee-based line if approved and completed. Results depend on mortgage rates, housing demand, financing and hedging markets, federal and state mortgage rules, and continued eligibility with Fannie Mae, Freddie Mac, and Ginnie Mae.
Company facts
Categories
Key statistics
Year to date −44.2% · Average volume (30d) 606.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | BTIG | Reiterate | Buy | $105 | $90 | |
| Jul 30, 2026 | Stephens | Target | $78 | |||
| Jul 30, 2026 | Barclays | Reiterate | Equal Weight | $93 | $85 | |
| Jul 30, 2026 | Piper Sandler | Downgrade | Overweight | Neutral | $106 | $86 |
| Jul 7, 2026 | Barclays | Downgrade | Overweight | Equal Weight | $107 | $93 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $2.11 | $1.39 | −34.1% | $571.6M | $497.0M | −13.1% | −11.82% |
| May 5, 2026Q1 FY26 | $2.22 | $2.19 | −1.4% | $546.2M | $545.0M | −0.2% | −0.62% |
| Jan 29, 2026Q4 FY25 | $3.23 | $1.97 | −39.0% | $632.6M | $538.0M | −15.0% | −33.25% |
| Oct 21, 2025Q3 FY25 | $2.70 | $3.37 | +24.8% | $591.2M | $632.9M | +7.0% | +7.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.07B | $931.6M | $882.8M | $1.18B | $966.7M | $972.2M | |
| Gross profit | $687.1M | $483.4M | $413.1M | $1.07B | $463.2M | $422.8M | |
| Operating income | $104.5M | $76.9M | $236.6M | $397.4M | $104.7M | $31.5M | |
| Net income | $76.3M | $136.5M | $181.5M | $106.8M | $82.3M | $21.7M | |
| Diluted EPS | $1.42 | $2.54 | $3.37 | $1.97 | $1.53 | $0.41 | |
| Gross margin | 64.2% | 51.9% | 46.8% | 90.5% | 47.9% | 43.5% | |
| Operating margin | 9.8% | 8.3% | 26.8% | 33.6% | 10.8% | 3.2% |
Fiscal years (4-quarter sums)FY21 $3.30B · FY22 $2.00B · FY23 $2.33B · FY24 $2.10B · FY25 $4.07B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $748.0M · Total debt $23.69B · Total assets $29.86B · Shareholders' equity $4.34B
Dividends
Raised for 5 straight years — most recently to $0.30 from $0.20 in Aug 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 27 | $0.30 | |
| May 18, 2026 | May 18 | May 28 | $0.30 | |
| Feb 13, 2026 | Feb 16 | Feb 26 | $0.30 | |
| Nov 17, 2025 | Nov 17 | Nov 26 | $0.30 | |
| Aug 13, 2025 | Aug 13 | Aug 22 | $0.30 | |
| May 14, 2025 | May 14 | May 23 | $0.30 | |
| Feb 13, 2025 | Feb 13 | Feb 23 | $0.30 | |
| Nov 18, 2024 | Nov 18 | Nov 27 | $0.30 |
Ownership
Shares outstanding 51.92M · Float 49.70M · 95.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| MFN Partners Management, LP | 4.53M | 8.73% | 13F | Aug 12, 2026 |
| T. Rowe Price Investment Management, Inc. | 3.92M | 7.55% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 2.33M | 4.48% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 2.13M | 4.10% | 13F | Aug 11, 2026 |
| Donald Smith & Co., Inc. | 1.88M | 3.62% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 1, 2026 | Gregory L. Hendry | officer: MD, Chief Accounting Officer | −2,177 | $86.89 |
| Jun 22, 2026 | Gregory L. Hendry | officer: MD, Chief Accounting Officer | −2,943 | $81.71 |
| May 15, 2026 | Daniel Stanley Perotti | officer: Chief Financial Officer | −2,925 | $87.50 |
| May 12, 2026 | David Spector | director, officer: Chairman & CEO | −10,000 | $87.99 |
| Apr 14, 2026 | David Spector | director, officer: Chairman & CEO | −10,000 | $92.83 |
Peers
- Rocket Companies
Broadest overlap in mortgage origination, servicing, and recapture
- UWM
Wholesale mortgage scale against broker and correspondent production
- Rithm Capital
Newrez overlaps in multichannel production, servicing, and MSRs
- Onity Group
Servicing and subservicing peer through PHH / Onity Mortgage
- loanDepot
Consumer mortgage and servicing recapture rival
- JPMorgan Chase
Large bank home-lending competitor in mortgage credit and servicing
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PennyMac Financial Services | $73.05 | −0.43% | $3.81B | 10.1 | 8.7 | 0.8 | −52.2% |
| Rocket Companies | $13.80 | +0.22% | $38.89B | 94.3 | 19.0 | 4.0 | +113.7% |
| UWM | $1.48 | −0.67% | $2.26B | — | 5.3 | 0.7 | −79.3% |
| Rithm Capital | $10.09 | +0.05% | $5.63B | 16.8 | 4.5 | 1.0 | +205.4% |
| Onity Group | $35.42 | +0.25% | $298.7M | 2.3 | 7.4 | 0.2 | +1.5% |
| loanDepot | $0.9698 | +0.95% | $321.8M | — | 52.4 | 0.2 | +19.4% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Median | 16.1 | 11.1 | 0.8 | +23.6% |