BidaskClub upgraded shares of Ocwen Financial Corporation (NYSE:OCN) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

OCN has been the topic of several other research reports. Zacks Investment Research raised Ocwen Financial Corporation from a hold rating to a buy rating and set a $3.00 price target on the stock in a research note on Thursday, May 11th. Piper Jaffray Companies raised Ocwen Financial Corporation from an underweight rating to a neutral rating and upped their price target for the company from $2.00 to $3.50 in a research note on Monday, May 1st. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Ocwen Financial Corporation in a research note on Monday, May 8th. Compass Point lowered 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, ValuEngine raised Ocwen Financial Corporation from a sell rating to a hold rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $3.75.

Ocwen Financial Corporation (NYSE OCN) traded down 1.73% during mid-day trading on Friday, reaching $2.84. The company’s stock had a trading volume of 949,236 shares. Ocwen Financial Corporation has a 12-month low of $2.12 and a 12-month high of $6.15. The firm’s 50 day moving average price is $2.81 and its 200 day moving average price is $3.72. The stock’s market cap is $371.64 million.

Ocwen Financial Corporation (NYSE:OCN) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.17. Ocwen Financial Corporation had a negative net margin of 5.95% and a negative return on equity of 12.41%. The business had revenue of $311.30 million during the quarter, compared to analyst estimates of $295.33 million. During the same period last year, the company earned ($0.71) EPS. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. On average, equities analysts predict that Ocwen Financial Corporation will post ($1.21) earnings per share for the current year.

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Several large investors have recently bought and sold shares of OCN. Paloma Partners Management Co purchased a new stake in Ocwen Financial Corporation during the first quarter valued at about $104,000. BB&T Securities LLC increased its stake in Ocwen Financial Corporation by 87.5% in the first quarter. BB&T Securities LLC now owns 22,500 shares of the financial services provider’s stock valued at $123,000 after buying an additional 10,500 shares in the last quarter. TFS Capital LLC increased its stake in Ocwen Financial Corporation by 106.9% in the first quarter. TFS Capital LLC now owns 24,249 shares of the financial services provider’s stock valued at $133,000 after buying an additional 12,528 shares in the last quarter. Quinn Opportunity Partners LLC increased its stake in Ocwen Financial Corporation by 3.6% in the second quarter. Quinn Opportunity Partners LLC now owns 59,653 shares of the financial services provider’s stock valued at $160,000 after buying an additional 2,100 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its stake in Ocwen Financial Corporation by 60.7% in the first quarter. Thompson Davis & CO. Inc. now owns 32,900 shares of the financial services provider’s stock valued at $180,000 after buying an additional 12,430 shares in the last quarter. Hedge funds and other institutional investors own 47.33% of the company’s stock.

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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