PennyMac Financial Services, Inc.
PFSI · Mortgage Bankers & Loan Correspondents · 51.9M shares · -10%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $44M (gross $71M, SBC $28M)
Reference price $81.71 · est. market cap ~$4.2B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Scaled non-bank mortgage producer/servicer with top-decile profitability and strong earnings growth through a naturally hedged production/servicing model.
Strengths
- Net margin 24.9% (99.9th pct) and net income +61% YoY (84th pct); ROA 1.7% (59th pct)
- Diversified, vertically integrated platform (production + servicing) with GSE/Agency approvals and PMT relationship
Risks
- Negative reported OCF/FCF margins (~2nd pct) — an artifact of loans-held-for-sale and MSR accounting
- Large Level 3 fair-value/MSR marks ($10.1B, 34% of assets) and heavy reliance on GSEs and PMT
- Substantial indebtedness sensitive to interest-rate and prepayment swings
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-1663.9M)
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$200,588, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -10%/yr over 4y
- Insider sellingInsider selling — 25 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$7M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
24.5%
Return on assets
1.7%
Revenue growth (QoQ)
1.3%
Net-income growth
60.9%
Free cash flow
-$1.7B
Stock comp / revenue
1.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | Hendry Gregory L | Sell | 2.9K | $81.71 |
| 2026-06-22 | Hendry Gregory L | Option exercise | 2.9K | $18.05 |
| 2026-05-15 | Perotti Daniel Stanley | Sell | 2.9K | $87.50 |
| 2026-05-12 | SPECTOR DAVID | Sell | 2.8K | $86.88 |
| 2026-05-12 | SPECTOR DAVID | Sell | 3.1K | $88.02 |
| 2026-05-12 | SPECTOR DAVID | Sell | 4.1K | $88.71 |
| 2026-05-08 | SPECTOR DAVID | Other | 25K | — |
| 2026-05-07 | MAZZELLA JOSEPH F | Grant | 359 | $93.03 |
| 2026-05-07 | NANJI FARHAD | Grant | 338 | $93.03 |
| 2026-05-07 | Chandra Sunil | Grant | 336 | $93.03 |
| 2026-04-14 | SPECTOR DAVID | Sell | 417 | $93.47 |
| 2026-04-14 | SPECTOR DAVID | Sell | 9.6K | $92.80 |
| 2026-03-06 | SPECTOR DAVID | Sell | 8.3K | $86.42 |
| 2026-03-06 | SPECTOR DAVID | Sell | 1.0K | $86.93 |
| 2026-03-06 | SPECTOR DAVID | Sell | 917 | $85.26 |
| 2026-03-06 | SPECTOR DAVID | Sell | 10K | $86.42 |
| 2026-03-06 | SPECTOR DAVID | Sell | 1.3K | $86.93 |
| 2026-03-06 | SPECTOR DAVID | Sell | 729 | $85.26 |
| 2026-03-03 | STARK DEREK | Sell | 1.1K | $87.66 |
| 2026-02-28 | Jones Doug | Tax withheld | 1.7K | $91.93 |
| 2026-02-28 | STARK DEREK | Tax withheld | 467 | $91.93 |
| 2026-02-28 | ELBAUM MARK | Tax withheld | 71 | $91.93 |
| 2026-02-28 | Tidmore Abbie | Tax withheld | 300 | $91.93 |
| 2026-02-28 | Follette James | Tax withheld | 599 | $91.93 |
| 2026-02-28 | Hendry Gregory L | Tax withheld | 32 | $91.93 |
| 2026-02-28 | Perotti Daniel Stanley | Tax withheld | 849 | $91.93 |
| 2026-02-28 | SPECTOR DAVID | Tax withheld | 3.1K | $91.93 |
| 2026-02-25 | STARK DEREK | Sell | 1.9K | $91.50 |
| 2026-02-24 | Follette James | Tax withheld | 554 | $90.33 |
| 2026-02-24 | SPECTOR DAVID | Tax withheld | 3.1K | $90.33 |
| 2026-02-24 | Tidmore Abbie | Tax withheld | 204 | $90.33 |
| 2026-02-24 | STARK DEREK | Tax withheld | 345 | $90.33 |
| 2026-02-24 | Perotti Daniel Stanley | Tax withheld | 616 | $90.33 |
| 2026-02-24 | Hendry Gregory L | Tax withheld | 45 | $90.33 |
| 2026-02-24 | Jones Doug | Tax withheld | 1.6K | $90.33 |
| 2026-02-20 | STARK DEREK | Tax withheld | 780 | $94.33 |
| 2026-02-20 | Hendry Gregory L | Option exercise | 304 | — |
| 2026-02-20 | Hendry Gregory L | Tax withheld | 126 | $94.33 |
| 2026-02-20 | SPECTOR DAVID | Tax withheld | 7.4K | $94.33 |
| 2026-02-20 | Perotti Daniel Stanley | Option exercise | 3.8K | — |
| 2026-02-20 | SPECTOR DAVID | Option exercise | 14K | — |
| 2026-02-20 | Perotti Daniel Stanley | Tax withheld | 1.4K | $94.33 |
| 2026-02-20 | Tidmore Abbie | Option exercise | 2.1K | — |
| 2026-02-20 | Tidmore Abbie | Tax withheld | 565 | $94.33 |
| 2026-02-20 | Follette James | Option exercise | 3.4K | — |
| 2026-02-20 | Follette James | Tax withheld | 1.2K | $94.33 |
| 2026-02-20 | Jones Doug | Option exercise | 7.6K | — |
| 2026-02-20 | Jones Doug | Tax withheld | 2.7K | $94.33 |
| 2026-02-20 | STARK DEREK | Option exercise | 2.1K | — |
| 2026-02-19 | SPECTOR DAVID | Sell | 1.7K | $93.97 |
| 2026-02-19 | SPECTOR DAVID | Sell | 5.8K | $93.97 |
| 2026-02-19 | SPECTOR DAVID | Sell | 2.5K | $94.85 |
| 2026-02-19 | SPECTOR DAVID | Sell | 1.7K | $95.81 |
| 2026-02-19 | SPECTOR DAVID | Sell | 733 | $94.85 |
| 2026-02-19 | SPECTOR DAVID | Sell | 528 | $95.81 |
| 2026-02-17 | Perotti Daniel Stanley | Sell | 2.9K | $93.30 |
| 2026-02-14 | Tidmore Abbie | Tax withheld | 171 | $92.01 |
| 2026-02-14 | STARK DEREK | Tax withheld | 388 | $92.01 |
| 2026-02-14 | Hendry Gregory L | Tax withheld | 80 | $92.01 |
| 2026-02-14 | Follette James | Tax withheld | 472 | $92.01 |
| 2026-02-14 | ELBAUM MARK | Tax withheld | 169 | $92.01 |
| 2026-02-14 | Jones Doug | Tax withheld | 904 | $92.01 |
| 2026-02-14 | SPECTOR DAVID | Tax withheld | 3.0K | $92.01 |
| 2026-02-14 | Perotti Daniel Stanley | Tax withheld | 631 | $92.01 |
| 2026-02-14 | Perotti Daniel Stanley | Disposition | 71 | — |
| 2026-02-13 | SPECTOR DAVID | Other | 25K | — |
| 2026-02-12 | Kinsella Patrick | Buy | 2.2K | $89.15 |
| 2026-02-12 | Tidmore Abbie | Grant | 3.0K | — |
| 2026-02-12 | STARK DEREK | Grant | 3.1K | — |
| 2026-02-12 | Perotti Daniel Stanley | Grant | 5.5K | — |
| 2026-02-12 | Hendry Gregory L | Grant | 314 | — |
| 2026-02-12 | Follette James | Grant | 3.8K | — |
| 2026-02-12 | ELBAUM MARK | Grant | 1.4K | — |
| 2026-02-12 | Jones Doug | Grant | 9.4K | — |
| 2026-02-12 | SPECTOR DAVID | Grant | 20K | — |
| 2026-02-11 | MCCALLION ANNE | Grant | 2.0K | — |
| 2026-02-11 | JACOBSON JONATHON S | Grant | 2.0K | — |
| 2026-02-11 | Perlowitz Jeffrey A. | Grant | 2.3K | — |
| 2026-02-11 | Tozer Theodore W | Grant | 2.0K | — |
| 2026-02-11 | Shalett Lisa M | Grant | 2.0K | — |
| 2026-02-11 | NANJI FARHAD | Grant | 2.0K | — |
| 2026-02-11 | Kinsella Patrick | Grant | 2.0K | — |
| 2026-02-11 | Chandra Sunil | Grant | 2.0K | — |
| 2026-02-02 | NANJI FARHAD | Grant | 213 | $147.37 |
| 2026-02-02 | MAZZELLA JOSEPH F | Grant | 226 | $147.37 |
| 2026-02-02 | Chandra Sunil | Grant | 212 | $147.37 |
| 2026-01-13 | SPECTOR DAVID | Sell | 5.1K | $145.54 |
| 2026-01-13 | SPECTOR DAVID | Sell | 48 | $146.29 |
| 2026-01-13 | SPECTOR DAVID | Sell | 4.9K | $144.81 |
| 2025-12-22 | MAZZELLA JOSEPH F | Gift | 5.0K | — |
| 2025-12-18 | Hendry Gregory L | Sell | 3.5K | $131.64 |
| 2025-12-18 | Hendry Gregory L | Option exercise | 3.5K | $11.28 |
| 2025-12-16 | SPECTOR DAVID | Sell | 2.8K | $130.07 |
| 2025-12-16 | SPECTOR DAVID | Sell | 538 | $130.68 |
| 2025-12-16 | SPECTOR DAVID | Sell | 1.7K | $129.10 |
| 2025-11-26 | Jones Doug | Gift | 20K | — |
| 2025-11-25 | Jones Doug | Sell | 13K | $132.82 |
| 2025-11-25 | Jones Doug | Sell | 7.4K | $132.30 |
| 2025-11-17 | Perotti Daniel Stanley | Sell | 5.2K | $126.46 |
| 2025-11-17 | Perotti Daniel Stanley | Sell | 3.5K | $126.98 |
| 2025-11-12 | SPECTOR DAVID | Sell | 196 | $129.86 |
| 2025-11-12 | SPECTOR DAVID | Sell | 4.8K | $129.24 |
| 2025-11-10 | Jones Doug | Option exercise | 23K | $11.28 |
| 2025-11-10 | Jones Doug | Sell | 23K | $127.56 |
| 2025-11-05 | Jones Doug | Sell | 4.3K | $126.09 |
| 2025-11-05 | Jones Doug | Option exercise | 4.3K | $11.28 |
| 2025-10-29 | SPECTOR DAVID | Other | 25K | — |
| 2025-10-24 | MCCALLION ANNE | Option exercise | 28K | $11.28 |
| 2025-10-24 | Perotti Daniel Stanley | Option exercise | 12K | $11.28 |
| 2025-10-24 | Perotti Daniel Stanley | Sell | 5.8K | $130.76 |
| 2025-10-24 | Perotti Daniel Stanley | Sell | 4.1K | $132.93 |
| 2025-10-24 | Perotti Daniel Stanley | Sell | 2.0K | $133.46 |
| 2025-10-24 | Perotti Daniel Stanley | Option exercise | 14K | $18.05 |
| 2025-10-24 | Perotti Daniel Stanley | Sell | 11K | $130.60 |
| 2025-10-24 | Perotti Daniel Stanley | Sell | 1.9K | $131.41 |
| 2025-10-24 | Perotti Daniel Stanley | Sell | 1.3K | $132.21 |
| 2025-10-24 | MCCALLION ANNE | Sell | 21K | $132.08 |
| 2025-10-24 | MCCALLION ANNE | Sell | 7.2K | $130.06 |
| 2025-10-23 | SPECTOR DAVID | Sell | 14K | $127.07 |
| 2025-10-23 | SPECTOR DAVID | Sell | 27K | $127.92 |
| 2025-10-23 | SPECTOR DAVID | Sell | 31K | $128.66 |
| 2025-10-23 | NANJI FARHAD | Grant | 253 | $116.57 |
| 2025-10-23 | MAZZELLA JOSEPH F | Grant | 270 | $116.57 |
| 2025-10-23 | SPECTOR DAVID | Option exercise | 71K | $128.05 |
| 2025-10-22 | Perotti Daniel Stanley | Option exercise | 8.3K | $18.05 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 6.5K | $130.19 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 379 | $131.54 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 304 | $133.99 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 1.2K | $132.38 |
| 2025-10-22 | Perotti Daniel Stanley | Option exercise | 4.8K | $11.28 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 3.8K | $130.30 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 797 | $131.96 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 41 | $132.91 |
| 2025-10-22 | Perotti Daniel Stanley | Sell | 141 | $133.99 |
| 2025-10-06 | SPECTOR DAVID | Sell | 261 | $120.89 |
| 2025-10-06 | SPECTOR DAVID | Sell | 1.4K | $116.89 |
| 2025-10-06 | SPECTOR DAVID | Sell | 1.8K | $118.19 |
| 2025-10-06 | SPECTOR DAVID | Sell | 711 | $119.13 |
| 2025-10-06 | SPECTOR DAVID | Sell | 862 | $119.98 |
| 2025-09-23 | SPECTOR DAVID | Sell | 1.7K | $122.46 |
| 2025-09-23 | SPECTOR DAVID | Sell | 3.1K | $123.16 |
| 2025-09-23 | SPECTOR DAVID | Sell | 214 | $124.03 |
| 2025-09-05 | Perotti Daniel Stanley | Sell | 2.9K | $116.63 |
| 2025-09-02 | Perotti Daniel Stanley | Sell | 5.8K | $108.20 |
| 2025-08-25 | STARK DEREK | Sell | 4.8K | $109.56 |
| 2025-08-18 | SPECTOR DAVID | Sell | 696 | $106.44 |
| 2025-08-18 | SPECTOR DAVID | Sell | 4.3K | $105.61 |
| 2025-08-13 | MAZZELLA JOSEPH F | Sell | 7.1K | $108.16 |
| 2025-07-25 | STARK DEREK | Gift | 250 | — |
| 2025-07-25 | SPECTOR DAVID | Other | 25K | — |
| 2025-07-24 | NANJI FARHAD | Grant | 274 | $100.92 |
| 2025-07-24 | MAZZELLA JOSEPH F | Grant | 294 | $100.92 |
| 2025-07-07 | SPECTOR DAVID | Sell | 1.2K | $101.51 |
| 2025-07-07 | SPECTOR DAVID | Sell | 3.6K | $100.48 |
| 2025-07-07 | SPECTOR DAVID | Sell | 205 | $102.37 |
| 2025-06-11 | SPECTOR DAVID | Sell | 2.7K | $97.79 |
| 2025-06-11 | SPECTOR DAVID | Sell | 2.1K | $98.83 |
| 2025-06-11 | SPECTOR DAVID | Sell | 183 | $99.40 |
| 2025-05-15 | Perotti Daniel Stanley | Sell | 9.5K | $99.40 |
| 2025-05-15 | Perotti Daniel Stanley | Sell | 966 | $99.92 |
| 2025-05-14 | SPECTOR DAVID | Sell | 5.0K | $99.15 |
| 2025-05-02 | NANJI FARHAD | Grant | 285 | $97.36 |
| 2025-05-02 | MAZZELLA JOSEPH F | Grant | 304 | $97.36 |
| 2025-05-02 | MAZZELLA JOSEPH F | Sell | 9.4K | $98.15 |
| 2025-05-02 | MAZZELLA JOSEPH F | Sell | 1.6K | $98.72 |
| 2025-05-02 | SPECTOR DAVID | Other | 25K | — |
| 2025-04-04 | ELBAUM MARK | Sell | 410 | $102.88 |
| 2025-04-02 | SPECTOR DAVID | Sell | 4.4K | $103.36 |
| 2025-04-02 | SPECTOR DAVID | Sell | 583 | $104.04 |
| 2025-03-24 | Tidmore Abbie | Sell | 2.7K | $102.55 |
| 2025-03-17 | SPECTOR DAVID | Other | 1.5K | — |
| 2025-03-06 | Follette James | Sell | 992 | $100.81 |
| 2025-03-06 | SPECTOR DAVID | Sell | 4.5K | $101.18 |
| 2025-03-06 | SPECTOR DAVID | Sell | 536 | $102.11 |
| 2025-03-05 | Jones Doug | Sell | 171 | $103.63 |
| 2025-03-05 | Jones Doug | Sell | 8.2K | $102.94 |
| 2025-03-04 | Follette James | Sell | 755 | $102.75 |
| 2025-03-04 | STARK DEREK | Sell | 588 | $101.52 |
| 2025-02-28 | SPECTOR DAVID | Sell | 2.5K | $102.95 |
| 2025-02-28 | SPECTOR DAVID | Sell | 570 | $103.64 |
| 2025-02-28 | STARK DEREK | Sell | 2.1K | $103.07 |
| 2025-02-28 | Hendry Gregory L | Tax withheld | 32 | $102.09 |
| 2025-02-28 | STARK DEREK | Tax withheld | 329 | $102.09 |
| 2025-02-28 | Follette James | Tax withheld | 422 | $102.09 |
| 2025-02-28 | ELBAUM MARK | Sell | 83 | $102.09 |
| 2025-02-28 | SPECTOR DAVID | Tax withheld | 3.1K | $102.09 |
| 2025-02-28 | Perotti Daniel Stanley | Tax withheld | 794 | $102.09 |
| 2025-02-28 | Tidmore Abbie | Tax withheld | 178 | $102.09 |
| 2025-02-28 | Jones Doug | Tax withheld | 1.7K | $102.09 |
| 2025-02-27 | SPECTOR DAVID | Sell | 4.5K | $101.93 |
| 2025-02-27 | SPECTOR DAVID | Sell | 3.3K | $101.93 |
| 2025-02-27 | SPECTOR DAVID | Sell | 1.7K | $102.50 |
| 2025-02-27 | SPECTOR DAVID | Sell | 2.3K | $102.50 |
| 2025-02-26 | Follette James | Sell | 990 | $102.70 |
| 2025-02-25 | Follette James | Sell | 2.0K | $99.93 |
| 2025-02-24 | Tidmore Abbie | Tax withheld | 204 | $101.25 |
| 2025-02-24 | SPECTOR DAVID | Tax withheld | 3.1K | $101.25 |
| 2025-02-24 | Follette James | Tax withheld | 553 | $101.25 |
| 2025-02-24 | Perotti Daniel Stanley | Tax withheld | 614 | $101.25 |
| 2025-02-24 | Jones Doug | Tax withheld | 1.2K | $101.25 |
| 2025-02-24 | Hendry Gregory L | Tax withheld | 45 | $101.25 |
| 2025-02-24 | STARK DEREK | Tax withheld | 344 | $101.25 |
| 2025-02-23 | Follette James | Tax withheld | 1.2K | $101.25 |
| 2025-02-23 | Tidmore Abbie | Tax withheld | 373 | $101.25 |
| 2025-02-23 | Jones Doug | Tax withheld | 2.0K | $101.25 |
| 2025-02-23 | STARK DEREK | Tax withheld | 917 | $101.25 |
| 2025-02-23 | Hendry Gregory L | Tax withheld | 66 | $101.25 |
| 2025-02-23 | Perotti Daniel Stanley | Tax withheld | 1.5K | $101.25 |
| 2025-02-23 | SPECTOR DAVID | Tax withheld | 6.9K | $101.25 |
| 2025-02-19 | JACOBSON JONATHON S | Gift | 1.9K | — |
| 2025-02-14 | Tozer Theodore W | Grant | 1.5K | — |
| 2025-02-14 | Shalett Lisa M | Grant | 1.5K | — |
| 2025-02-14 | Perlowitz Jeffrey A. | Grant | 1.5K | — |
| 2025-02-14 | NANJI FARHAD | Grant | 1.5K | — |
| 2025-02-14 | MCCALLION ANNE | Grant | 1.5K | — |
| 2025-02-14 | MAZZELLA JOSEPH F | Grant | 1.5K | — |
| 2025-02-14 | Kinsella Patrick | Grant | 1.5K | — |
| 2025-02-14 | JACOBSON JONATHON S | Grant | 1.5K | — |
| 2025-02-14 | Chandra Sunil | Grant | 1.5K | — |
| 2025-02-14 | White Donald J. | Grant | 552 | — |
| 2025-02-14 | STARK DEREK | Grant | 2.8K | — |
| 2025-02-14 | Perotti Daniel Stanley | Grant | 4.9K | — |
| 2025-02-14 | Perotti Daniel Stanley | Sell | 10K | $101.49 |
| 2025-02-14 | Hendry Gregory L | Grant | 736 | — |
| 2025-02-14 | Follette James | Grant | 3.4K | — |
| 2025-02-14 | Jones Doug | Grant | 8.4K | — |
| 2025-02-14 | Bailey Steven Richard | Grant | 1.7K | — |
| 2025-02-14 | SPECTOR DAVID | Grant | 18K | — |
| 2025-02-05 | NANJI FARHAD | Grant | 273 | $101.41 |
| 2025-02-05 | MAZZELLA JOSEPH F | Grant | 292 | $101.41 |
| 2025-01-08 | SPECTOR DAVID | Sell | 4.3K | $99.30 |
| 2025-01-08 | SPECTOR DAVID | Sell | 736 | $99.87 |
| 2024-12-30 | MAZZELLA JOSEPH F | Gift | 4.0K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-05 | 0001104659-26-072973 ↗ |
| 8-K | 2026-06-04 | 2026-06-03 | 0001104659-26-070549 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001104659-26-055690 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001104659-26-055670 ↗ |
| 8-K | 2026-03-18 | 2026-03-16 | 0001104659-26-031062 ↗ |
| 10-K | 2026-02-20 | 2025-12-31 | 0001104659-26-018142 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001104659-26-013409 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001104659-26-008004 ↗ |
| 10-Q | 2025-10-28 | 2025-09-30 | 0001104659-25-103162 ↗ |
| 8-K | 2025-10-21 | 2025-10-21 | 0001104659-25-101260 ↗ |
| 8-K | 2025-09-08 | 2025-09-08 | 0001104659-25-088064 ↗ |
| 8-K | 2025-08-12 | 2025-08-12 | 0001104659-25-076874 ↗ |