StockNews.com Initiates Coverage on Ocwen Financial (NYSE:OCN)

StockNews.com started coverage on shares of Ocwen Financial (NYSE:OCN) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. B. Riley reaffirmed a buy rating and set a $50.00 price objective on shares of Ocwen Financial in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods increased their price objective 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 Stock Down 0.8 %

Shares of NYSE OCN opened at $25.08 on Thursday. The firm has a market cap of $195.87 million, a price-to-earnings ratio of 47.32 and a beta of 1.93. Ocwen Financial has a 1 year low of $21.15 and a 1 year high of $35.79. The company has a debt-to-equity ratio of 21.76, a quick ratio of 21.72 and a current ratio of 21.72. The stock’s 50-day simple moving average is $24.98 and its 200-day simple moving average is $26.83.

Ocwen Financial (NYSE:OCN) last released its quarterly 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. The business 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%. As a group, equities analysts anticipate that Ocwen Financial will post 6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Ocwen Financial by 107.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock valued at $32,000 after buying an additional 541 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Ocwen Financial by 41.7% during the 3rd 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 during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ocwen Financial during the fourth quarter valued at $111,000. Acadian Asset Management LLC raised its holdings in 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 worth $245,000 after buying an additional 5,332 shares during the period. Finally, GSA Capital Partners LLP increased its position in shares of 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 worth $518,000 after acquiring an additional 420 shares in the last quarter. 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.