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

Ocwen Financial Corporation (NYSE:OCN): 2 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $5.25 in Ocwen Financial Corporation (NYSE:OCN). However, the stock price could fluctuate by $ 3.89 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $8 price target with the lower price estimate is calculated at $3

Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Citigroup maintains its outlook on Ocwen Financial Corporation (NYSE:OCN). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $2.5 per share to $3 per share. The rating by the firm was issued on March 29, 2016. Company shares have received an average consensus rating of Hold for the current week

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 (NYSE:OCN) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.14 points or 7.95% at $1.62 with 1,893,150 shares getting traded. Post opening the session at $1.74, the shares hit an intraday low of $1.62 and an intraday high of $1.75 and the price was in this range throughout the day. The company has a market cap of $201 million and the number of outstanding shares have been calculated to be 123,853,683 shares. The 52-week high of Ocwen Financial Corporation (NYSE:OCN) is $11.82 and the 52-week low is $1.44.

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.

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