Ocwen Financial (NYSE:OCN) Earns Hold Rating from Analysts at StockNews.com

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

Several other research firms also recently commented on OCN. B. Riley reiterated a buy rating and set a $50.00 price objective on shares of Ocwen Financial in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods raised 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.

Ocwen Financial Trading Down 0.8 %

NYSE:OCN opened at $25.08 on Friday. Ocwen Financial has a 12 month low of $21.15 and a 12 month high of $35.79. The firm has a fifty day simple moving average of $24.98 and a 200-day simple moving average of $26.83. The company has a current ratio of 21.72, a quick ratio of 21.72 and a debt-to-equity ratio of 21.76. The company has a market capitalization of $195.87 million, a P/E ratio of 47.32 and a beta of 1.93.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Ocwen Financial by 0.7% during the first quarter. Vanguard Group Inc. now owns 326,899 shares of the financial services provider’s stock worth $8,830,000 after purchasing an additional 2,126 shares during the last quarter. Empowered Funds LLC increased 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 valued at $1,018,000 after buying an additional 2,800 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Ocwen Financial by 113.1% in the first quarter. Commonwealth Equity Services LLC now owns 21,976 shares of the financial services provider’s stock valued at $594,000 after buying an additional 11,665 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Ocwen Financial by 2.2% in the first 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Ocwen Financial in the fourth quarter valued at $111,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.

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.