Ocwen Financial (NYSE:OCN) PT Raised to $32.00 at Keefe, Bruyette & Woods

Ocwen Financial (NYSE:OCN) had its target price boosted by investment analysts at Keefe, Bruyette & Woods from $28.00 to $32.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 17.69% from the company’s previous close.

Separately, B. Riley reaffirmed a “buy” rating and set a $50.00 price target on shares of Ocwen Financial in a research note on Tuesday, March 26th.

Ocwen Financial Trading Up 0.5 %

Shares of Ocwen Financial stock opened at $27.19 on Wednesday. The company has a 50-day moving average of $25.15 and a two-hundred day moving average of $26.72. Ocwen Financial has a 12-month low of $21.15 and a 12-month high of $35.79. The company has a current ratio of 21.72, a quick ratio of 21.72 and a debt-to-equity ratio of 21.76. The stock has a market cap of $212.35 million, a PE ratio of 51.30 and a beta of 1.92.

Ocwen Financial (NYSE:OCN) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.35. The business had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $260.23 million. Ocwen Financial had a return on equity of 13.66% and a net margin of 0.63%. On average, research analysts anticipate that Ocwen Financial will post 5.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Ocwen Financial

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Ocwen Financial by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 42,815 shares of the financial services provider’s stock valued at $1,108,000 after buying an additional 1,429 shares during the period. Acadian Asset Management LLC lifted its stake in shares of 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 purchasing an additional 5,332 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Ocwen Financial by 41.7% during the third quarter. Public Employees Retirement System of Ohio now owns 2,734 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 805 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ocwen Financial in the fourth quarter valued at $111,000. Finally, Tower Research Capital LLC TRC grew its holdings in Ocwen Financial by 107.3% in the 4th 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. Hedge funds and other institutional investors own 70.16% of the company’s stock.

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.