Ocwen Financial Co. (NYSE:OCN – Get Rating) Executive Vice Chairman George T. Henley purchased 1,980 shares of the company in a trade that took place on Wednesday, May 25. The shares were acquired at an average cost of $25.28 per share, with a total value of $50,054.40. Following the purchase, the executive vice president now directly owns 3,666 shares of the company, valued at $92,676.48. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website.
Ocwen Financial’s stock traded at $1.72 at midday Thursday, hitting $26.90. The stock had a trading volume of 100,077 shares, compared to an average volume of 66,004. The company has a leverage ratio of 16.12, a quick ratio of 17.58 and a current ratio of 17.58. Ocwen Financial Co. has a fifty-two-week low of $17.76 and a fifty-two-week high of $41.92. The stock’s 50-day simple moving average is $22.35 and its 200-day simple moving average is $30.59. The company has a market capitalization of $248.83 million, a PE ratio of 3.62 and a beta of 1.94.
Ocwen Financial (NYSE:OCN – Get Rating) last released its results on Thursday, May 5. The financial services provider reported earnings per share of $1.43 for the quarter, beating consensus analyst estimates of $0.78 from $0.65. Ocwen Financial had a return on equity of 6.98% and a net margin of 6.30%. The company posted revenue of $231.56 million for the quarter, versus analyst estimates of $276.06 million. On average, research analysts expect Ocwen Financial Co. to post 6.5 earnings per share for the current fiscal year.
Several research companies have recently commented on OCN. B. Riley lowered his target price on Ocwen Financial from $56.00 to $50.00 in a Wednesday, March 16 research note. Zacks Investment Research upgraded Ocwen Financial from a “Strong Sell” rating to a “Hold” rating in a Wednesday, May 18 research note. StockNews.com began covering Ocwen Financial in a research note on Thursday, March 31. They set a “holding” rating for the company. Finally, BTIG Research began covering Ocwen Financial in a research note on Wednesday, April 20. They set a “neutral” rating for the company. Three analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.67.
Hedge funds have recently been buying and selling shares of the company. Royal Bank of Canada increased its holdings in Ocwen Financial by 52.9% during the third quarter. Royal Bank of Canada now owns 887 shares of the financial services provider worth $25,000 after acquiring 307 additional shares during the period. Bank of America Corp DE increased its stake in Ocwen Financial by 4.7% during the fourth quarter. Bank of America Corp DE now owns 9,578 shares of the financial services provider worth $383,000 after acquiring an additional 430 shares during the period. Citigroup Inc. increased its stake in Ocwen Financial by 140.2% in the third quarter. Citigroup Inc. now owns 932 shares of the financial services provider worth $26,000 after acquiring an additional 544 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ocwen Financial by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,417 shares of the financial services provider worth $509,000 after acquiring an additional 795 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in Ocwen Financial during the first quarter at a value of $31,000. Institutional investors hold 59.89% of the company’s shares.
Ocwen Financial Company Profile (Get an evaluation)
Ocwen Financial Corporation, a financial services company, originates and services mortgages in the United States, the US Virgin Islands, India and the Philippines. The Company operates through Servicing and Originations segments. It provides commercial mortgage servicing services, special services and asset management, as well as residential mortgage services, such as conventional term and reverse, government-insured and agencyless loans, including reverse mortgages to mortgage owners. and seized real estate.
Get news and reviews for Ocwen Financial Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Ocwen Financial and related companies with MarketBeat.com’s free daily email newsletter.