Ocwen Financial (OCN) Now Covered by BTIG Research

Stock analysts at BTIG Research started coverage on shares of Ocwen Financial (NYSE:OCN) in a research note issued on Thursday, The Fly reports. The firm set a “neutral” rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on OCN. ValuEngine upgraded shares of Ocwen Financial from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $4.00 target price on shares of Ocwen Financial in a research note on Thursday, November 8th.

Shares of Ocwen Financial stock traded down $0.03 on Thursday, reaching $2.10. The stock had a trading volume of 1,342,800 shares, compared to its average volume of 1,242,148. The company has a debt-to-equity ratio of 11.76, a quick ratio of 8.31 and a current ratio of 8.31. Ocwen Financial has a fifty-two week low of $2.02 and a fifty-two week high of $4.84.

Ocwen Financial (NYSE:OCN) last released its earnings results on Tuesday, November 6th. The financial services provider reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.15). The company had revenue of $238.30 million for the quarter, compared to analyst estimates of $241.00 million. Ocwen Financial had a negative net margin of 10.97% and a negative return on equity of 13.76%. Ocwen Financial’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share.

A number of large investors have recently added to or reduced their stakes in OCN. KBC Group NV acquired a new position in Ocwen Financial during the 2nd quarter valued at $272,000. Bank of New York Mellon Corp raised its stake in Ocwen Financial by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 510,976 shares of the financial services provider’s stock valued at $2,024,000 after purchasing an additional 17,525 shares during the last quarter. Systematic Financial Management LP acquired a new position in Ocwen Financial during the 2nd quarter valued at $1,231,000. Schwab Charles Investment Management Inc. raised its stake in Ocwen Financial by 5.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,765,746 shares of the financial services provider’s stock valued at $6,993,000 after purchasing an additional 95,822 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Ocwen Financial in the 2nd quarter valued at $416,000. Hedge funds and other institutional investors own 61.44% of the company’s stock.

About Ocwen Financial

Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.

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