PHH Corp (PHH) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its position in PHH Corp (NYSE:PHH) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,461 shares of the credit services provider’s stock after selling 4,530 shares during the period. Wells Fargo & Company MN owned about 0.07% of PHH Corp worth $543,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PHH. BNP Paribas Arbitrage SA lifted its position in shares of PHH Corp by 237.1% during the second quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the credit services provider’s stock worth $117,000 after acquiring an additional 5,966 shares in the last quarter. Aperio Group LLC lifted its position in shares of PHH Corp by 12.2% during the second quarter. Aperio Group LLC now owns 20,249 shares of the credit services provider’s stock worth $279,000 after acquiring an additional 2,194 shares in the last quarter. Westpac Banking Corp purchased a new stake in shares of PHH Corp during the second quarter worth $322,000. American International Group Inc. lifted its position in shares of PHH Corp by 7.1% during the first quarter. American International Group Inc. now owns 32,629 shares of the credit services provider’s stock worth $415,000 after acquiring an additional 2,160 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in shares of PHH Corp during the second quarter worth $512,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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In other news, Director Carroll R. Wetzel sold 21,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $14.25, for a total value of $299,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.52% of the company’s stock.

Several research firms have issued reports on PHH. ValuEngine upgraded PHH Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub upgraded PHH Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded PHH Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $15.00 target price on shares of PHH Corp in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.83.

PHH Corp (PHH) opened at $11.06 on Friday. PHH Corp has a 1-year low of $10.97 and a 1-year high of $15.70. The company has a current ratio of 2.94, a quick ratio of 5.61 and a debt-to-equity ratio of 1.84.

PHH Corp (NYSE:PHH) last released its quarterly earnings results on Tuesday, November 7th. The credit services provider reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.38). The firm had revenue of $121.00 million during the quarter, compared to the consensus estimate of $61.00 million. PHH Corp had a negative return on equity of 27.98% and a negative net margin of 71.84%. The company’s revenue for the quarter was down 38.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS.

PHH Corp declared that its board has approved a share buyback plan on Tuesday, August 8th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the credit services provider to reacquire up to 26.9% of its shares through a dutch auction. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

PHH Corp Profile

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.

Institutional Ownership by Quarter for PHH Corp (NYSE:PHH)

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