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

Ocwen Financial (NYSE:OCN) had its price target boosted 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 indicates a potential upside of 17.69% from the company’s current price.

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

Ocwen Financial Trading Up 0.5 %

Shares of OCN opened at $27.19 on Wednesday. The company has a current ratio of 21.72, a quick ratio of 21.72 and a debt-to-equity ratio of 21.76. The stock has a market cap of $212.35 million, a PE ratio of 51.30 and a beta of 1.92. Ocwen Financial has a 1 year low of $21.15 and a 1 year high of $35.79. The stock has a 50 day simple moving average of $25.15 and a 200-day simple moving average of $26.72.

Ocwen Financial (NYSE:OCN) last released 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. The firm had revenue of $277.30 million during the quarter, compared to analyst estimates of $260.23 million. Ocwen Financial had a return on equity of 13.66% and a net margin of 0.63%. On average, sell-side analysts predict that Ocwen Financial will post 5.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Ocwen Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Ocwen Financial by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock valued at $32,000 after purchasing 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 worth $71,000 after buying an additional 805 shares in the last quarter. SG Americas Securities LLC bought a new position in Ocwen Financial in the 4th quarter valued at $111,000. Acadian Asset Management LLC increased its stake in shares of 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 valued at $245,000 after buying an additional 5,332 shares during the period. Finally, GSA Capital Partners LLP raised 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 last quarter. Institutional investors and hedge funds 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.