Price Target Update on Ocwen Financial Corporation (NYSE:OCN)

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.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Citigroup maintains its rating on Ocwen Financial Corporation (NYSE:OCN).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $2.5 per share to $3 per share. The rating by the firm was issued on March 29, 2016.

Ocwen Financial Corporation (NYSE:OCN): stock turned positive on Thursday. Though the stock opened at $1.7, the bulls momentum made the stock top out at $1.77 level for the day. The stock recorded a low of $1.61 and closed the trading day at $1.74, in the green by 10.83%. The total traded volume for the day was 4,661,610. The stock had closed at $1.57 in the previous days trading.

The company shares have dropped -85.12% from its 1 Year high price. On Jul 30, 2015, the shares registered one year high at $11.82 and the one year low was seen on May 20, 2016. The 50-Day Moving Average price is $1.86 and the 200 Day Moving Average price is recorded at $3.80. On the companys insider trading activities, Kumbar Otto J, officer (EVP, Lending) of Ocwen Financial Corp, executed a transaction worth $146,000 on March 11, 2016. A total of 50,000 shares were purchased at an average price of $2.92. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.