Ocwen Financial Corporation (NYSE:OCN) : 5 analysts are covering Ocwen Financial Corporation (NYSE:OCN) and their average rating on the stock is 3, which is read as a Hold. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Ocwen Financial Corporation (NYSE:OCN) : The consensus price target for Ocwen Financial Corporation (NYSE:OCN) is $5.25 for the short term with a standard deviation of $3.89. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $8, however, the pessimist price target for the company is $3.
Company shares have received an average consensus rating of Hold for the current week
Ocwen Financial Corporation (NYSE:OCN): stock turned positive on Tuesday. Though the stock opened at $1.59, the bulls momentum made the stock top out at $1.77 level for the day. The stock recorded a low of $1.56 and closed the trading day at $1.61, in the green by 1.90%. The total traded volume for the day was 1,175,267. The stock had closed at $1.58 in the previous days trading.
In an insider trading activity, Kumbar Otto J, officer (EVP, Lending) of Ocwen Financial Corp had purchased 50,000 shares on March 11, 2016 in a transaction. The price per share was $2.92 and the total amount of the disclosed transaction was $146,000.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Ocwen Financial Corporation (Ocwen) is a financial services holding company. The Company, through its subsidiaries operates as a mortgage company. The Company operates in segments, including Servicing and Lending. The Companys Servicing business consists of its residential mortgage servicing business. The Servicing involves the collection and remittance of principal and interest payments received from borrowers, the administration of mortgage escrow accounts, the collection of insurance claims, the management of loans that are delinquent or in foreclosure or bankruptcy. In the Companys Lending business, it originates and purchases conventional and government-insured forward mortgage loans through the direct, wholesale and correspondent lending channels of its Homeward operations.