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 69.86% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.31%, 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 6.6% in the last 1 week, and is up 69.5% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 21.88% and the fifty day Moving Average is 59.83%. Ocwen Financial Corp. is up 71.21% in the last three month period. Year-to-Date the stock performance stands at -51.36%.
Ocwen Financial Corporation (OCN) : 3 investment research analysts covering Ocwen Financial Corporation (OCN) have an average price target of $4.33 for the near short term. The highest target price given by the Brokerage Firm to the stock is $8 and the lowest target is $2 for the short term. Analysts expect the variance to be within $3.21 of the average price.
Ocwen Financial Corporation (NYSE:OCN): stock turned positive on Friday. Though the stock opened at $3.36, the bulls momentum made the stock top out at $3.4293 level for the day. The stock recorded a low of $3.24 and closed the trading day at $3.39, in the green by 6.60%. The total traded volume for the day was 2,362,347. The stock had closed at $3.18 in the previous days trading.
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.