Wells Fargo & Company MN lessened its holdings in Ocwen Financial Corporation (NYSE:OCN) by 70.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,579 shares of the financial services provider’s stock after selling 179,985 shares during the period. Wells Fargo & Company MN owned about 0.06% of Ocwen Financial Corporation worth $205,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Quinn Opportunity Partners LLC lifted its stake in shares of Ocwen Financial Corporation by 3.6% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 59,653 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,100 shares during the period. Pacad Investment Ltd. bought a new position in shares of Ocwen Financial Corporation in the 2nd quarter worth approximately $422,000. SG Americas Securities LLC lifted its stake in shares of Ocwen Financial Corporation by 5.3% in the 2nd quarter. SG Americas Securities LLC now owns 150,705 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 7,522 shares during the period. Rhumbline Advisers lifted its stake in shares of Ocwen Financial Corporation by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 128,831 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 2,826 shares during the period. Finally, Eagle Global Advisors LLC bought a new position in shares of Ocwen Financial Corporation in the 2nd quarter worth approximately $376,000. Hedge funds and other institutional investors own 46.48% of the company’s stock.

Shares of Ocwen Financial Corporation (OCN) opened at $3.16 on Wednesday. Ocwen Financial Corporation has a fifty-two week low of $2.12 and a fifty-two week high of $6.15. The company has a debt-to-equity ratio of 9.82, a current ratio of 5.07 and a quick ratio of 5.07.

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OCN has been the topic of several recent research reports. ValuEngine upgraded shares of Ocwen Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub lowered shares of Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $3.00 target price on shares of Ocwen Financial Corporation in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $3.33.

Ocwen Financial Corporation 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.

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

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