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

Stock analysts at StockNews.com assumed coverage on shares of Ocwen Financial (NYSE:OCN) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their target price on 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 set a $50.00 target price on shares of Ocwen Financial in a report on Tuesday, March 26th.

Ocwen Financial Price Performance

The company has a quick ratio of 21.72, a current ratio of 21.72 and a debt-to-equity ratio of 21.76. The business’s 50-day moving average is $24.98 and its two-hundred day moving average is $26.83. Ocwen Financial has a 12 month low of $21.15 and a 12 month high of $35.79. The firm has a market capitalization of $195.88 million, a price-to-earnings 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 EPS for the quarter, topping the consensus estimate of $1.21 by $0.53. The company had revenue of $239.10 million for the quarter, compared to analysts’ expectations of $265.41 million. Ocwen Financial had a return on equity of 13.66% and a net margin of 0.63%. On average, equities research analysts predict that Ocwen Financial will post 6 EPS for the current fiscal year.

Hedge Funds Weigh In On Ocwen Financial

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 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 valued at $1,018,000 after acquiring an additional 2,800 shares during the last quarter. Commonwealth Equity Services LLC boosted 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 acquiring an additional 11,665 shares during the last quarter. GSA Capital Partners LLP boosted 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 acquiring an additional 420 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Ocwen Financial in the fourth quarter valued at about $111,000. 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.