Ocwen Financial Corporation (NYSE:OCN)’s share price dropped 1.2% on Thursday . The stock traded as low as $3.19 and last traded at $3.23, with a volume of 742,182 shares traded. The stock had previously closed at $3.27.

OCN has been the topic of several research reports. Zacks Investment Research upgraded shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Compass Point cut their price target on shares of Ocwen Financial Corporation from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Thursday, April 28th. Piper Jaffray Cos. dropped their price objective on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 8th. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Ocwen Financial Corporation in a research note on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating on the stock in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.93.

The firm’s market cap is $404.19 million. The stock’s 50-day moving average price is $2.11 and its 200 day moving average price is $2.63.

Ocwen Financial Corporation (NYSE:OCN) last posted its earnings results on Wednesday, July 27th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.43) by $0.28. During the same period last year, the firm posted $0.08 EPS. The company earned $373.05 million during the quarter, compared to analysts’ expectations of $324.05 million. The firm’s revenue was down 19.5% compared to the same quarter last year. Equities research analysts expect that Ocwen Financial Corporation will post ($2.29) earnings per share for the current fiscal year.

A number of large investors have bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ocwen Financial Corporation by 0.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,650 shares of the company’s stock valued at $2,214,000 after buying an additional 1,475 shares during the last quarter. 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 in the last quarter. Finally, 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 in 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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