Ocwen Financial Corporation (NYSE:OCN) shares were down 1.2% during mid-day trading on Thursday . The company traded as low as $3.19 and last traded at $3.23, with a volume of 742,182 shares trading hands. The stock had previously closed at $3.27.

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

The firm’s market cap is $394.28 million. The firm’s 50 day moving average is $2.15 and its 200-day moving average is $2.62.

Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.71) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.28. During the same period in the prior year, the firm earned $0.08 earnings per share. The company earned $373.05 million during the quarter, compared to the consensus estimate of $324.05 million. Ocwen Financial Corporation’s revenue for the quarter was down 19.5% compared to the same quarter last year. Equities analysts forecast that Ocwen Financial Corporation will post ($2.24) earnings per share for the current year.

Other hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised 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 valued at $1,086,000 after buying an additional 5,930 shares during the last quarter. California Public Employees Retirement System raised 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 valued at $3,074,000 after buying an additional 41,300 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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.

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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