Ocwen Financial Corporation (NYSE:OCN) shares rose 4.6% on Monday . The stock traded as high as $3.25 and last traded at $3.19, with a volume of 2,511,346 shares. The stock had previously closed at $3.05.

OCN has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Compass Point decreased their price objective on shares of Ocwen Financial Corporation from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, April 28th. Piper Jaffray Cos. decreased their price objective on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, August 8th. Oppenheimer Holdings Inc. reissued a “” rating on shares of Ocwen Financial Corporation in a report on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Ocwen Financial Corporation has a consensus rating of “Hold” and a consensus target price of $3.93.

The stock’s market capitalization is $404.19 million. The stock’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.64.

Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.28. The firm had revenue of $373.05 million for the quarter, compared to analyst estimates of $324.05 million. During the same period last year, the firm earned $0.08 EPS. The company’s revenue was down 19.5% compared to the same quarter last year. On average, equities research analysts predict that Ocwen Financial Corporation will post ($2.20) earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of OCN. California Public Employees Retirement System boosted its stake in shares of Ocwen Financial Corporation by 10.3% in the fourth quarter. California Public Employees Retirement System now owns 441,100 shares of the company’s stock worth $3,074,000 after buying an additional 41,300 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Ocwen Financial Corporation by 4.0% in the fourth quarter. Rhumbline Advisers now owns 155,775 shares of the company’s stock worth $1,086,000 after buying an additional 5,930 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Ocwen Financial Corporation by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 199,120 shares of the company’s stock worth $1,388,000 after buying an additional 3,606 shares during the last quarter.

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business.

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