Ocwen Financial Corporation (NYSE:OCN) shares rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $3.34 and last traded at $3.32, with a volume of 875,000 shares. The stock had previously closed at $3.20.

OCN has been the topic of a number of recent analyst 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 lowered 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. lowered their price target on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. Oppenheimer Holdings Inc. restated a “” rating on shares of Ocwen Financial Corporation in a report on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating on the stock 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 currently has an average rating of “Hold” and a consensus price target of $3.93.

The company’s market capitalization is $410.39 million. The company’s 50-day moving average is $2.19 and its 200 day moving average is $2.56.

Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.28. The business had revenue of $373.05 million for the quarter, compared to the consensus estimate of $324.05 million. During the same quarter in the previous year, the business earned $0.08 EPS. Ocwen Financial Corporation’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, equities research analysts anticipate that Ocwen Financial Corporation will post ($2.24) earnings per share for the current fiscal year.

A number of hedge funds have modified their holdings of OCN. 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 worth $2,214,000 after buying an additional 1,475 shares during the period. 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 worth $1,086,000 after buying an additional 5,930 shares during the period. Finally, 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 worth $3,074,000 after buying an additional 41,300 shares during the period.

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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