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

Ocwen Financial (NYSE:OCN) had its price objective upped by Keefe, Bruyette & Woods from $28.00 to $32.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

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

Ocwen Financial Price Performance

OCN opened at $27.41 on Wednesday. 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 company has a market capitalization of $214.07 million, a price-to-earnings ratio of 51.72 and a beta of 1.92. The business’s fifty day simple moving average is $25.12 and its 200-day simple moving average is $26.72.

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

Institutional Investors Weigh In On Ocwen Financial

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Ocwen Financial in the fourth quarter worth about $111,000. Public Employees Retirement System of Ohio grew its holdings in Ocwen Financial by 41.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,734 shares of the financial services provider’s stock valued at $71,000 after buying an additional 805 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ocwen Financial by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,815 shares of the financial services provider’s stock worth $1,108,000 after acquiring an additional 1,429 shares during the last quarter. Acadian Asset Management LLC raised its holdings 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 acquiring an additional 5,332 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Ocwen Financial by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,692 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 2,800 shares during the last quarter. 70.16% of the stock is currently owned by institutional investors and hedge funds.

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.