Ocwen Financial (NYSE:OCN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Ocwen Financial (NYSE:OCNFree Report) in a research note released on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

OCN has been the topic of several other research reports. B. Riley restated a buy rating and set a $50.00 price objective on shares of Ocwen Financial in a report on Tuesday, March 26th. Keefe, Bruyette & Woods increased their price target on shares of Ocwen Financial from $28.00 to $32.00 and gave the stock a market perform rating in a report on Wednesday, May 8th.

Check Out Our Latest Research Report on Ocwen Financial

Ocwen Financial Stock Performance

The company has a debt-to-equity ratio of 21.76, a quick ratio of 21.72 and a current ratio of 21.72. The stock has a market capitalization of $195.88 million, a P/E ratio of 47.32 and a beta of 1.93. The business has a 50-day simple moving average of $24.98 and a 200 day simple moving average of $26.84. Ocwen Financial has a 1-year low of $21.15 and a 1-year high of $35.79.

Ocwen Financial (NYSE:OCNGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.53. The company had revenue of $239.10 million for the quarter, compared to analysts’ expectations of $265.41 million. Ocwen Financial had a net margin of 0.63% and a return on equity of 13.66%. As a group, analysts predict that Ocwen Financial will post 6 EPS for the current fiscal year.

Hedge Funds Weigh In On Ocwen Financial

Several hedge funds and other institutional investors have recently made changes to their positions in OCN. Vanguard Group Inc. increased its holdings in shares of Ocwen Financial by 0.7% in 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. Empowered Funds LLC boosted 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 worth $1,018,000 after purchasing an additional 2,800 shares in the last quarter. GSA Capital Partners LLP boosted its position in Ocwen Financial by 2.2% during the first quarter. GSA Capital Partners LLP now owns 19,196 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 420 shares in the last quarter. Commonwealth Equity Services LLC boosted its position 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 worth $594,000 after purchasing an additional 11,665 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Ocwen Financial by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 541 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

About Ocwen Financial

(Get Free Report)

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.

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