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PennyMac Mortgage: Q1 Earnings Snapshot
May 6, 2021
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WESTLAKE VILLAGE, Calif. (AP) PennyMac Mortgage Investment Trust (PMT) on Thursday reported first-quarter net income of $71.6 million, after reporting a loss in the same period a year earlier.
The Westlake Village, California-based company said it had profit of 67 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The specialty finance company posted revenue of $201.4 million in the period.
PennyMac Mortgage shares have risen 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.68, more than doubling in the last 12 months.
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PennyMac Mortgage Investment Trust (NYSE: PMT) a specialty finance company invests in residential mortgage loans and mortgage-related assets. PNMAC Capital Management, owned by PennyMac Financial Services, Inc. (NYSE: PFSI), manages PMT.
Earlier in March the company declared a cash dividend of $0.47. In February, David A. Spector, CEO of the company, assumed the role of Chairman and will and continue serving as CEO. For Q3 2020 the net income was $99.3 million and EPS was $0.94.
PennyMac Mortgage Investment Trust (NYSE: PMT) stock has yielded a return of 96.81% over the last 12 months.
Why independent mortgage banks might want to sell themselves now nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.