WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Financial Services Inc. (PFSI) on Thursday reported fourth-quarter earnings of $38.7 million.
On a per-share basis, the Westlake Village, California-based company said it had net income of 63 cents.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The mortgage banking and investment management company posted revenue of $251.2 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $238.8 million.
For the year, the company reported profit of $87.7 million, or $2.59 per share. Revenue was reported as $984.6 million.
PennyMac shares have fallen slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.18, a decline of slightly more than 2 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFSI at https://www.zacks.com/ap/PFSI