Ocwen Financial (NYSE:OCN) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Ocwen Financial (NYSE:OCN) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on OCN. Keefe, Bruyette & Woods lifted their target price on shares of Ocwen Financial from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. B. Riley restated a “buy” rating and issued a $50.00 price objective on shares of Ocwen Financial in a report on Tuesday, March 26th.

Ocwen Financial Price Performance

The company’s fifty day moving average is $24.98 and its 200 day moving average is $26.83. The company has a market cap of $195.88 million, a price-to-earnings ratio of 47.32 and a beta of 1.93. Ocwen Financial has a 52-week low of $21.15 and a 52-week high of $35.79. The company has a current ratio of 21.72, a quick ratio of 21.72 and a debt-to-equity ratio of 21.76.

Ocwen Financial (NYSE:OCN) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.53. The firm had revenue of $239.10 million during the quarter, compared to the consensus estimate of $265.41 million. Ocwen Financial had a return on equity of 13.66% and a net margin of 0.63%. On average, research analysts expect that Ocwen Financial will post 6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocwen Financial

Several large investors have recently bought and sold shares of OCN. Vanguard Group Inc. grew its stake in shares of Ocwen Financial by 0.7% in the first quarter. Vanguard Group Inc. now owns 326,899 shares of the financial services provider’s stock worth $8,830,000 after acquiring an additional 2,126 shares during the period. Empowered Funds LLC boosted its holdings in Ocwen Financial by 8.0% in the first quarter. Empowered Funds LLC now owns 37,692 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 2,800 shares during the last quarter. Commonwealth Equity Services LLC grew its position 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 worth $594,000 after purchasing an additional 11,665 shares during the period. GSA Capital Partners LLP raised its stake in Ocwen Financial by 2.2% during the 1st quarter. GSA Capital Partners LLP now owns 19,196 shares of the financial services provider’s stock valued at $518,000 after buying an additional 420 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Ocwen Financial by 126.8% during the 3rd quarter. Acadian Asset Management LLC now owns 9,536 shares of the financial services provider’s stock valued at $245,000 after buying an additional 5,332 shares during the period. 70.16% of the stock is currently owned by institutional investors.

Ocwen Financial Company Profile

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.