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 33.49% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 11.03%, 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 11.5% in the last 1 week, and is up 36.81% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Ocwen Financial Corporation (NYSE:OCN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.15 and $2.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.28. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.23, notching a gain of 5.69% for the day. The total traded volume was 2,522,352 . The stock had closed at $2.11 on the previous day.
The stock has recorded a 20-day Moving Average of 22.56% and the 50-Day Moving Average is 24.46%. Ocwen Financial Corp. is up 10.4% in the last 3-month period. Year-to-Date the stock performance stands at -68.01%.
Ocwen Financial Corporation (OCN) : Currently there are 3 street experts covering Ocwen Financial Corporation (OCN) stock. The most bullish and bearish price target for the stock is $8 and $3 respectively for the short term. The average price target of all the analysts comes to $4.5. The estimated standard deviation from the target is $3.04.
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.