Ocwen Financial (NYSE:OCN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Ocwen Financial (NYSE:OCN) in a research note published on Wednesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other research analysts have also commented on OCN. Keefe, Bruyette & Woods increased their price objective on Ocwen Financial from $28.00 to $32.00 and gave the company a market perform rating in a research report on Wednesday, May 8th. B. Riley reiterated a buy rating and issued a $50.00 price objective on shares of Ocwen Financial in a research report on Tuesday, March 26th.

Ocwen Financial Price Performance

Ocwen Financial has a twelve month low of $21.15 and a twelve month high of $35.79. The firm has a 50-day simple moving average of $24.98 and a 200-day simple moving average of $26.84. The company has a debt-to-equity ratio of 21.76, a current ratio of 21.72 and a quick ratio of 21.72. The company has a market capitalization of $195.88 million, a PE ratio of 47.32 and a beta of 1.93.

Ocwen Financial (NYSE:OCN) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.53. Ocwen Financial had a net margin of 0.63% and a return on equity of 13.66%. The company had revenue of $239.10 million during the quarter, compared to the consensus estimate of $265.41 million. As a group, sell-side analysts anticipate that Ocwen Financial will post 6 EPS for the current year.

Hedge Funds Weigh In On Ocwen Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Ocwen Financial by 0.7% in the first quarter. Vanguard Group Inc. now owns 326,899 shares of the financial services provider’s stock valued at $8,830,000 after acquiring an additional 2,126 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Ocwen Financial by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,692 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 2,800 shares during the period. GSA Capital Partners LLP lifted its stake in Ocwen Financial by 2.2% in the 1st quarter. GSA Capital Partners LLP now owns 19,196 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 420 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Ocwen Financial by 113.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 21,976 shares of the financial services provider’s stock valued at $594,000 after purchasing an additional 11,665 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Ocwen Financial by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 541 shares during the period. 70.16% of the stock is owned by institutional investors.

About Ocwen Financial

Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.