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

StockNews.com assumed coverage on shares of Ocwen Financial (NYSE:OCN) in a research report released on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

OCN has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price target on Ocwen Financial from $28.00 to $32.00 and gave the stock a market perform rating in a research note on Wednesday, May 8th. B. Riley restated a buy rating and set a $50.00 price target on shares of Ocwen Financial in a research report on Tuesday, March 26th.

Ocwen Financial Price Performance

The stock has a market capitalization of $195.88 million, a P/E ratio of 47.32 and a beta of 1.93. 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 business has a 50 day moving average price of $24.98 and a two-hundred day moving average price of $26.83. Ocwen Financial has a one year low of $21.15 and a one year high of $35.79.

Ocwen Financial (NYSE:OCN) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.74 EPS 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 net margin of 0.63% and a return on equity of 13.66%. Equities research analysts anticipate that Ocwen Financial will post 6 earnings per share for the current year.

Hedge Funds Weigh In On Ocwen Financial

A number of institutional investors and hedge funds have recently made changes to their positions in OCN. Tower Research Capital LLC TRC boosted its position in shares of Ocwen Financial by 107.3% in the 4th 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 in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Ocwen Financial by 41.7% during the third quarter. Public Employees Retirement System of Ohio now owns 2,734 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 805 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ocwen Financial in the 4th quarter worth about $111,000. Acadian Asset Management LLC boosted its stake in Ocwen Financial by 126.8% in the 3rd quarter. Acadian Asset Management LLC now owns 9,536 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 5,332 shares in the last quarter. Finally, GSA Capital Partners LLP increased 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 purchasing an additional 420 shares in the last quarter. Institutional investors own 70.16% of the company’s stock.

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.