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

Ocwen Financial (NYSE:OCN) had its price target raised by investment analysts at Keefe, Bruyette & Woods from $28.00 to $32.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 18.91% from the company’s previous close.

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

Ocwen Financial Price Performance

Shares of OCN stock traded down $0.24 during trading hours on Wednesday, hitting $26.91. The stock had a trading volume of 153 shares, compared to its average volume of 12,510. The stock’s 50-day moving average price is $25.11 and its two-hundred day moving average price is $26.71. Ocwen Financial has a one year low of $21.15 and a one year high of $35.79. The stock has a market capitalization of $210.17 million, a price-to-earnings ratio of 50.77 and a beta of 1.92. The company has a debt-to-equity ratio of 21.76, a current ratio of 21.72 and a quick ratio of 21.72.

Ocwen Financial (NYSE:OCN) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.35. Ocwen Financial had a return on equity of 13.66% and a net margin of 0.63%. The business had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $260.23 million. Equities analysts forecast that Ocwen Financial will post 5.58 EPS for the current year.

Institutional Investors Weigh In On Ocwen Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in Ocwen Financial by 107.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 541 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Ocwen Financial by 41.7% during 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. SG Americas Securities LLC purchased a new stake in Ocwen Financial in the 4th quarter valued at about $111,000. Acadian Asset Management LLC grew its stake in Ocwen Financial by 126.8% in 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 in the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of Ocwen Financial by 2.2% during the first quarter. GSA Capital Partners LLP now owns 19,196 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 420 shares during the period. 70.16% of the stock is owned by institutional investors.

About Ocwen Financial

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.