May 29, 2022
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Mortgage slowdown leads to income decline at PennyMac

By   /  Monday, May 9th, 2022  /  Banking & Finance, Earnings, Latest news, Real Estate, Regions, Tri-County Public Companies, Ventura County  /  Comments Off on Mortgage slowdown leads to income decline at PennyMac

NOTE: This article was posted May 9 and revised May 10 to correct an error in the headline and first sentence. PennyMac Financial Services reported net profits for the quarter, not a loss as we initially reported, while PennyMac Mortgage Investment Trust reported a loss. Amid a “challenging mortgage market,” Westlake Village-based mortgage lender PennyMac Read More →

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PennyMac reports earnings dip

By   /  Friday, February 4th, 2022  /  Banking & Finance, Earnings, East Ventura County, Latest news, middle, Real Estate, Subscriber content, Top Stories, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac reports earnings dip

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PennyMac Financial reports profit while investment trust records loss in Q3

By   /  Friday, November 5th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac Financial reports profit while investment trust records loss in Q3

Westlake Village-based PennyMac Financial Services saw its net income drop in the third quarter compared to the year before, but officials reported “exceptional financial performance” in other areas in earnings released Nov. 4. The mortgage lender and loan servicer reported net income of $249.3 million in the third quarter, or $3.80 per share on a Read More →

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PennyMac misses earnings targets

By   /  Friday, August 6th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac misses earnings targets

Both segments of PennyMac’s business missed estimates when they announced their second quarter financial earning reports on Aug. 5. PennyMac Financial Services reported net income of $204.2 million, or $2.94 per share on a diluted basis, missing the 3.48 per share estimate predicted by Zacks Consensus Estimates. The Westlake Village-based financial services segment had earnings Read More →

Latest

PennyMac earnings up as mortgage boom continues

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac earnings up as mortgage boom continues

PennyMac Financial Services reported a higher net income and revenue in the first quarter, as well as a cash dividend, when it announced its latest earnings on May 6. The Westlake Village-based mortgage lender and loan servicer recorded net income of $376.9 million, or $5.15 per share, on revenue of $944.7 million. For the first Read More →

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Amgen CEO again tops list of region’s highest paid execs

By   /  Friday, April 30th, 2021  /  Banking & Finance, Latest news, Top Stories, Tri-County Public Companies  /  Comments Off on Amgen CEO again tops list of region’s highest paid execs

Robert Bradway remained the highest paid executive in the Tri-Counties in 2020, but stock options and new faces changed a lot of the names and positions on the list. Bradway, the CEO of Amgen, earned $20.13 million in total compensation in 2020 — 3% more than he earned in 2019, and 8.23% more than in Read More →

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PennyMac reports earnings jump, tops $2B in income in 2020

By   /  Thursday, February 4th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac reports earnings jump, tops $2B in income in 2020

PennyMac Financial Services hit a record high with pretax income of more than $2 billion last year as the company saw a sharp increase in both its fourth quarter and year-end results. The Westlake Village-based mortgage firm reported a net income of $452.8 million for the fourth quarter of 2020, or $5.97 per share on Read More →