Ocwen Financial Corporation (OCN) Trading 4.4% Higher
Shares of Ocwen Financial Corporation (NYSE:OCN) traded up 4.4% on Monday . The stock traded as high as $3.60 and last traded at $3.54, with a volume of 1,650,966 shares trading hands. The stock had previously closed at $3.39.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Piper Jaffray Cos. decreased their target price on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th. Oppenheimer Holdings Inc. reiterated a “” rating on shares of Ocwen Financial Corporation in a research report on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating on the stock in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $3.93.
The stock has a 50-day moving average price of $2.36 and a 200 day moving average price of $2.55. The company’s market cap is $441.39 million.
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 Thomson Reuters’ consensus estimate of ($0.43) by $0.28. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The firm had revenue of $373.05 million for the quarter, compared to the consensus estimate of $324.05 million. Ocwen Financial Corporation’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities research analysts anticipate that Ocwen Financial Corporation will post ($2.24) EPS for the current fiscal year.
An institutional investor recently raised its position in Ocwen Financial Corporation stock. Rhumbline Advisers raised its position in Ocwen Financial Corporation (NYSE:OCN) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,775 shares of the company’s stock after buying an additional 5,930 shares during the period. Rhumbline Advisers owned 0.12% of Ocwen Financial Corporation worth $1,086,000 at the end of the most recent reporting 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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