Ocwen Financial (NYSE:OCN) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Ocwen Financial (NYSE:OCN) in a report published on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on OCN. Keefe, Bruyette & Woods lifted their price target on Ocwen Financial from $28.00 to $32.00 and gave the company a market perform rating in a research report on Wednesday, May 8th. B. Riley restated a buy rating and issued a $50.00 price target on shares of Ocwen Financial in a research note on Tuesday, March 26th.

Ocwen Financial Price Performance

Shares of OCN stock opened at $25.08 on Thursday. The firm has a market cap of $195.87 million, a P/E ratio of 47.32 and a beta of 1.93. Ocwen Financial has a fifty-two week low of $21.15 and a fifty-two week high of $35.79. The business’s 50 day moving average price is $24.98 and its 200-day moving average price is $26.83. The company has a debt-to-equity ratio of 21.76, a quick ratio of 21.72 and a current ratio of 21.72.

Ocwen Financial (NYSE:OCN) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.53. The firm had revenue of $239.10 million for the quarter, compared to analyst estimates of $265.41 million. Ocwen Financial had a return on equity of 13.66% and a net margin of 0.63%. On average, equities research analysts anticipate that Ocwen Financial will post 6 earnings per share for the current year.

Institutional Trading of Ocwen Financial

Several hedge funds have recently bought and sold shares of OCN. Commonwealth Equity Services LLC boosted its stake in Ocwen Financial by 113.1% during the first quarter. Commonwealth Equity Services LLC now owns 21,976 shares of the financial services provider’s stock valued at $594,000 after buying an additional 11,665 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Ocwen Financial by 126.8% during the third quarter. Acadian Asset Management LLC now owns 9,536 shares of the financial services provider’s stock valued at $245,000 after buying an additional 5,332 shares during the last quarter. SG Americas Securities LLC bought a new position in Ocwen Financial during the fourth quarter valued at approximately $111,000. Empowered Funds LLC raised its position in Ocwen Financial by 8.0% during the first quarter. Empowered Funds LLC now owns 37,692 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 2,800 shares during the period. Finally, Vanguard Group Inc. raised its position in Ocwen Financial by 0.7% during the first quarter. Vanguard Group Inc. now owns 326,899 shares of the financial services provider’s stock valued at $8,830,000 after purchasing an additional 2,126 shares during the period. Institutional investors own 70.16% of the company’s stock.

Ocwen Financial Company Profile

Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.