NYSE:PFSIDiversified Financial
PennyMac Financial Services (PFSI) Stock Shrugs Off Profit Drop As Margins Tighten
PennyMac Financial Services stock inched up about 1.5% to roughly US$77 after the latest earnings landed, which is a calm move for results this uneven. The market appears to be focusing on the adjusted story rather than the headline net income drop. Core adjusted net income of US$74m, equal to US$1.39 per share and a 7% adjusted return on equity, presents a more resilient picture than the GAAP net income of US$22m and US$0.41 per share.
The sentiment test now is simple. Are investors right to...