Ocwen Financial Corporation (NYSE:OCN) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.17.

A number of analysts recently weighed in on OCN shares. BidaskClub raised shares of Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research raised shares of Ocwen Financial Corporation from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Tuesday, June 6th. ValuEngine raised shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $3.00 target price on shares of Ocwen Financial Corporation in a research note on Wednesday, August 16th.

A number of institutional investors have recently modified their holdings of OCN. Dimensional Fund Advisors LP grew its stake in Ocwen Financial Corporation by 557.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,093,048 shares of the financial services provider’s stock worth $16,919,000 after buying an additional 2,622,863 shares during the last quarter. Sound Point Capital Management LP bought a new stake in Ocwen Financial Corporation during the second quarter worth about $6,776,000. California Public Employees Retirement System grew its stake in Ocwen Financial Corporation by 94.7% during the second quarter. California Public Employees Retirement System now owns 572,100 shares of the financial services provider’s stock worth $1,539,000 after buying an additional 278,200 shares during the last quarter. KBC Group NV grew its stake in Ocwen Financial Corporation by 309.6% during the first quarter. KBC Group NV now owns 319,303 shares of the financial services provider’s stock worth $1,747,000 after buying an additional 241,345 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Ocwen Financial Corporation by 36.5% during the first quarter. Parametric Portfolio Associates LLC now owns 726,593 shares of the financial services provider’s stock worth $3,974,000 after buying an additional 194,449 shares during the last quarter. 48.46% of the stock is currently owned by hedge funds and other institutional investors.

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Ocwen Financial Corporation (NYSE OCN) opened at 3.19 on Friday. The firm has a 50-day moving average price of $2.89 and a 200-day moving average price of $3.28. Ocwen Financial Corporation has a 52 week low of $2.12 and a 52 week high of $6.15. The firm’s market capitalization is $417.44 million.

Ocwen Financial Corporation (NYSE:OCN) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.17). The business had revenue of $311.30 million during the quarter, compared to the consensus estimate of $295.33 million. Ocwen Financial Corporation had a negative net margin of 5.95% and a negative return on equity of 12.41%. The business’s revenue was down 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.71) EPS. Equities analysts forecast that Ocwen Financial Corporation will post ($0.87) EPS for the current year.

Ocwen Financial Corporation Company Profile

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.

Analyst Recommendations for Ocwen Financial Corporation (NYSE:OCN)

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