BB&T Securities LLC increased its position in Ocwen Financial Corporation (NYSE:OCN) by 87.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,500 shares of the financial services provider’s stock after buying an additional 10,500 shares during the period. BB&T Securities LLC’s holdings in Ocwen Financial Corporation were worth $123,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Ocwen Financial Corporation by 5.3% in the fourth quarter. State Street Corp now owns 1,836,727 shares of the financial services provider’s stock worth $9,901,000 after buying an additional 91,782 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Ocwen Financial Corporation by 1.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 69,397 shares of the financial services provider’s stock worth $374,000 after buying an additional 1,178 shares in the last quarter. Numeric Investors LLC bought a new stake in shares of Ocwen Financial Corporation during the fourth quarter worth about $1,221,000. Russell Investments Group Ltd. bought a new stake in shares of Ocwen Financial Corporation during the fourth quarter worth about $231,000. Finally, Norges Bank bought a new stake in shares of Ocwen Financial Corporation during the fourth quarter worth about $6,555,000. Institutional investors own 47.56% of the company’s stock.

Institutional Ownership by Quarter for Ocwen Financial Corporation (NYSE:OCN)

Ocwen Financial Corporation (OCN) traded up 0.36% during midday trading on Friday, reaching $2.82. The company had a trading volume of 1,458,669 shares. The firm’s market capitalization is $351.32 million. Ocwen Financial Corporation has a 12-month low of $1.29 and a 12-month high of $6.15. The stock’s 50 day moving average is $2.66 and its 200 day moving average is $4.43.

Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.04. The business had revenue of $321.90 million for the quarter, compared to the consensus estimate of $302.90 million. Ocwen Financial Corporation had a negative return on equity of 5.55% and a negative net margin of 8.79%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) earnings per share. Equities research analysts expect that Ocwen Financial Corporation will post ($1.11) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “BB&T Securities LLC Has $123,000 Stake in Ocwen Financial Corporation (OCN)” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/bbt-securities-llc-has-123000-stake-in-ocwen-financial-corporation-ocn/1372265.html.

OCN has been the topic of a number of analyst reports. Zacks Investment Research upgraded Ocwen Financial Corporation from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Thursday, May 11th. Piper Jaffray Companies upgraded Ocwen Financial Corporation from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $2.00 to $3.50 in a research note on Monday, May 1st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Ocwen Financial Corporation in a research note on Monday, May 8th. Compass Point cut Ocwen Financial Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $5.00 price objective on shares of Ocwen Financial Corporation in a research note on Monday, April 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ocwen Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $3.75.

In other Ocwen Financial Corporation news, major shareholder John Devaney purchased 3,040,209 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The shares were acquired at an average cost of $2.70 per share, for a total transaction of $8,208,564.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.17% of the company’s stock.

About Ocwen Financial Corporation

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.

Want to see what other hedge funds are holding OCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ocwen Financial Corporation (NYSE:OCN).

Receive News & Ratings for Ocwen Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocwen Financial Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.