Ocwen Financial Corporation (OCN) : Traders are bullish on Ocwen Financial Corporation (OCN) as it has outperformed the S&P 500 by a wide margin of 12.98% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.52%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.07% in the last 1 week, and is up 10.69% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.29% and the 50-Day Moving Average is 34.56%.The 200 Day SMA reached 1.59% Ocwen Financial Corp. is up 122.78% in the last 3-month period. Year-to-Date the stock performance stands at -49.5%.
Ocwen Financial Corporation (OCN) : The most positive equity analysts on Ocwen Financial Corporation (OCN) expects the shares to touch $5, whereas, the least positive believes that the stock will trade at $2 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $3.17 with an expected fluctuation of $1.26 from the mean.
Company shares have received an average consensus rating of Hold for the current week Ocwen Financial Corporation (NYSE:OCN): The stock opened at $3.35 and touched an intraday high of $3.55 on Friday. During the day, the stock corrected to an intraday low of $3.34, however, the bulls stepped in and pushed the price higher to close in the green at $3.52 with a gain of 4.45% for the day. The total traded volume for the day was 4,796,580. The stock had closed at $3.52 in the previous trading session.
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.