Exclusive: Can Ocwen Financial Corp’s Tomorrow Be Different? The Stock Increases Again

Exclusive: Can Ocwen Financial Corp's Tomorrow Be Different? The Stock Increases Again

The stock of Ocwen Financial Corp (NYSE:OCN) is a huge mover today! The stock increased 4.86% or $0.17 during the last trading session, hitting $3.67. About 2.83 million shares traded hands or 34.12% up from the average. Ocwen Financial Corp (NYSE:OCN) has declined 43.09% since February 26, 2016 and is downtrending. It has underperformed by 53.51% the S&P500.
The move comes after 6 months positive chart setup for the $439.95 million company. It was reported on Sep, 30 by Barchart.com. We have $10.53 PT which if reached, will make NYSE:OCN worth $822.71M more.

Analysts await Ocwen Financial Corp (NYSE:OCN) to report earnings on October, 26. They expect $-0.42 EPS, up 20.75% or $0.11 from last year’s $-0.53 per share. After $-0.02 actual EPS reported by Ocwen Financial Corp for the previous quarter, Wall Street now forecasts 2,000.00% negative EPS growth.

Ocwen Financial Corp (NYSE:OCN) Ratings Coverage

Out of 8 analysts covering Ocwen Financial (NYSE:OCN), 1 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 13% are positive. Ocwen Financial has been the topic of 16 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Ocwen Financial Corp (NYSE:OCN) has “Sell” rating given on Tuesday, August 4 by Compass Point. As per Wednesday, September 14, the company rating was upgraded by Compass Point. Piper Jaffray reinitiated the shares of OCN in a report on Friday, December 11 with “Neutral” rating. The rating was maintained by Compass Point with “Neutral” on Thursday, April 28. Oppenheimer maintained Ocwen Financial Corp (NYSE:OCN) on Friday, August 7 with “Market Perform” rating. The rating was upgraded by Vetr to “Strong-Buy” on Wednesday, September 2. Citigroup maintained the stock with “Neutral” rating in Tuesday, March 29 report. The company was downgraded on Friday, July 31 by Sterne Agee CRT. The stock of Ocwen Financial Corp (NYSE:OCN) earned “Strong-Buy” rating by Vetr on Friday, August 28. The stock has “Buy” rating given by Zacks on Thursday, August 6.

According to Zacks Investment Research, “Ocwen Financial Corporation is a financial services holding company engaged in asset acquisition and resolution, residential finance, commercial finance, investment management and hotel operations. The Company primarily specializes in the aquisition and resolution of non-performing or underperforming loans.”

Insitutional Activity: The institutional sentiment decreased to 0.67 in Q2 2016. Its down 0.14, from 0.81 in 2016Q1. The ratio is negative, as 28 funds sold all Ocwen Financial Corp shares owned while 42 reduced positions. 11 funds bought stakes while 36 increased positions. They now own 72.59 million shares or 12.47% less from 82.94 million shares in 2016Q1.
Deutsche Retail Bank Ag has 0% invested in the company for 1.68 million shares. Schwab Charles Mngmt has 0% invested in the company for 796,944 shares. Whitebox Advsrs Ltd has invested 0.02% of its portfolio in Ocwen Financial Corp (NYSE:OCN). The Connecticut-based Paloma Prtn Co has invested 0% in Ocwen Financial Corp (NYSE:OCN). Goldman Sachs Group Inc Inc last reported 668,167 shares in the company. Fishman Jay A Ltd Mi reported 20,000 shares or 0% of all its holdings. Blackrock Institutional Tru Na holds 0% or 2.84M shares in its portfolio. Toronto Dominion Bank & Trust has 13,000 shares for 0% of their US portfolio. Great West Life Assurance Comm Can last reported 0% of its portfolio in the stock. Jnba Fincl Advsrs has 0% invested in the company for 20 shares. Art Lc owns 38,412 shares or 0% of their US portfolio. Moreover, Panagora Asset Management has 0% invested in Ocwen Financial Corp (NYSE:OCN) for 3,000 shares. Moreover, Grp One Trading Ltd Partnership has 0.02% invested in Ocwen Financial Corp (NYSE:OCN) for 745,547 shares. Creative Planning owns 80,900 shares or 0% of their US portfolio. Richmond Hill Investments Lc holds 4.57 million shares or 4.98% of its portfolio.

Insider Transactions: Since April 28, 2016, the stock had 0 insider buys, and 1 sale for $565,300 net activity. KINGSTOWN CAPITAL PARTNERS – LLC sold $565,300 worth of stock.

More recent Ocwen Financial Corp (NYSE:OCN) news were published by: Fool.com which released: “Why Ocwen Financial Corp. Is Plunging Today” on February 29, 2016. Also Reuters.com published the news titled: “BRIEF-Michael Blitzer reports 7.66 pct stake in Ocwen Financial Corp” on September 02, 2016. Businesswire.com‘s news article titled: “Fitch Affirms Ocwen Financial Corp at ‘B-‘; Outlook Stable” with publication date: June 21, 2016 was also an interesting one.

OCN Company Profile

Ocwen Financial Corporation, incorporated on August 22, 1991, is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s divisions include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans. The Company’s Corporate Items and Other segment includes business activities that include providing secured floor plan lending to used car dealerships through its Automotive Capital Services (ACS) venture and providing financing to investors to purchase single-family homes and apartments for lease through its Liberty Rental Finance venture. The Corporate Items and Other segment also includes the diversified fee businesses, which provide property valuation, real estate owned (REO) management, title and closing services.

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