Bank of America Corp DE Buys Shares of 9,566 Onity Group Inc. (NYSE:ONIT)

Bank of America Corp DE acquired a new position in shares of Onity Group Inc. (NYSE:ONIT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,566 shares of the company's stock, valued at approximately $294,000. Bank of America Corp DE owned 0.12% of Onity Group as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ONIT. Corebridge Financial Inc. purchased a new stake in shares of Onity Group during the 4th quarter valued at about $98,000. New York State Common Retirement Fund acquired a new stake in Onity Group in the fourth quarter valued at approximately $100,000. Wells Fargo & Company MN purchased a new stake in shares of Onity Group during the fourth quarter valued at approximately $116,000. MetLife Investment Management LLC acquired a new position in shares of Onity Group during the fourth quarter worth $117,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Onity Group during the fourth quarter worth $209,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Onity Group Stock Down 1.6%

Shares of ONIT stock traded down $0.58 during mid-day trading on Tuesday, reaching $36.29. 25,466 shares of the company were exchanged, compared to its average volume of 37,190. The company has a debt-to-equity ratio of 25.88, a quick ratio of 33.57 and a current ratio of 33.57. The business's 50 day simple moving average is $35.61 and its 200 day simple moving average is $33.57. The company has a market capitalization of $290.68 million, a P/E ratio of 12.73 and a beta of 1.66. Onity Group Inc. has a fifty-two week low of $22.40 and a fifty-two week high of $41.27.

Onity Group (NYSE:ONIT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.79 by $1.05. The company had revenue of $249.80 million during the quarter, compared to analyst estimates of $244.63 million. Onity Group had a net margin of 2.62% and a return on equity of 22.67%. Research analysts predict that Onity Group Inc. will post 10.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BTIG Research reaffirmed a "buy" rating on shares of Onity Group in a research note on Monday, May 5th. Keefe, Bruyette & Woods lifted their target price on Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th.

About Onity Group

Onity Group Inc, 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.