EJF Capital is Buying Phh Corp (NYSE:PHH) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Phh Corp (NYSE:PHH)
reported that EJF Capital has picked up 5,292,329 of common stock as of 2017-04-28.

The acquisition brings the aggregate amount owned by EJF Capital to a total of 5,292,329 representing less than 9.9% stake in the company.

For those not familiar with the company, PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries. It operates through two segments: Mortgage Production and Mortgage Servicing. The Mortgage Production segment provides mortgage loan origination services and sells mortgage loans. The Mortgage Servicing segment performs servicing activities for loans originated by the Company and mortgage servicing rights purchased from others, and acts as a subservicer for certain clients that own the underlying mortgage servicing rights. The Mortgage Production segment provides private label mortgage services to financial institutions and real estate brokers, and sources mortgage loans through its retail platform.

A glance at Phh Corp (NYSE:PHH)’s key stats reveals a current market capitalization of 687.74 Million based on 53.60 Million shares outstanding and a price at last close of $12.90 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2014-08-08, Citadel picked up 6,378 at a purchase price of $23.96. This brings their total holding to 0 as of the date of the filing.

On the sell side, the most recent transaction saw Silver unload 910,000 shares at a sale price of $13.17. This brings their total holding to 4,958,900.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Phh Corp (NYSE:PHH)
as things move forward to see if its progress aligns with these transactions.

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