Ocwen Financial (NYSE:OCN) Price Target Cut to $28.00 by Analysts at Keefe, Bruyette & Woods

Ocwen Financial (NYSE:OCN - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $30.00 to $28.00 in a research note published on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider's stock.

Several other equities research analysts also recently issued reports on OCN. B. Riley reissued a buy rating and set a $50.00 price objective on shares of Ocwen Financial in a research report on Tuesday, March 26th. StockNews.com raised Ocwen Financial from a sell rating to a hold rating in a research report on Friday, December 15th.

Ocwen Financial Trading Up 1.2 %

NYSE:OCN traded up $0.29 on Tuesday, reaching $25.46. The company's stock had a trading volume of 5,612 shares, compared to its average volume of 12,234. The firm has a market cap of $195.53 million, a PE ratio of -2.95 and a beta of 1.88. The company has a debt-to-equity ratio of 23.13, a quick ratio of 18.14 and a current ratio of 18.14. The business's 50-day moving average price is $26.76 and its two-hundred day moving average price is $26.62. Ocwen Financial has a 1-year low of $21.15 and a 1-year high of $35.79.

Ocwen Financial (NYSE:OCN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.35. The business had revenue of $277.30 million during the quarter, compared to analyst estimates of $260.23 million. Ocwen Financial had a positive return on equity of 10.21% and a negative net margin of 5.97%. Equities research analysts anticipate that Ocwen Financial will post 5.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocwen Financial

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Ocwen Financial by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 206,281 shares of the financial services provider's stock valued at $4,901,000 after purchasing an additional 21,471 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ocwen Financial by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,417 shares of the financial services provider's stock valued at $509,000 after buying an additional 795 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ocwen Financial by 10.5% in the first quarter. Invesco Ltd. now owns 21,781 shares of the financial services provider's stock valued at $518,000 after buying an additional 2,075 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Ocwen Financial during the first quarter worth $230,000. Finally, State Street Corp raised its position in Ocwen Financial by 5.5% during the first quarter. State Street Corp now owns 144,482 shares of the financial services provider's stock worth $3,433,000 after acquiring an additional 7,591 shares in the last quarter. 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.