Ocwen Financial Corporation (OCN): Today's Featured Banking Winner
The banking industry closed the day down 2.3%. Dearborn Bancorp Inc (DEAR), Waccamaw Bankshares Inc (WBNK), North Central Bancshares Inc (FFFD), and Carver Bancorp Inc (CARV) were all winners today within the banking industry with Ocwen Financial Corporation (OCN) being today's featured banking winner. Ocwen Financial Corporation rose 26 cents (2%) to $13.02 on average volume. Throughout the day, 983,908 shares of Ocwen Financial Corporation exchanged hands as compared to its average daily volume of 950,200 shares. Ocwen Financial Corporation, through its subsidiaries, provides residential and commercial mortgage loan servicing, special servicing, and asset management services. The company operates in two segments, Ocwen Asset Management and Ocwen Solutions. Ocwen Financial Corporation has a market cap of $1.3 billion and is part of the financial sector. The company has a P/E ratio of 30.5, above the average banking industry P/E ratio of 27.8 and above the S&P 500 P/E ratio of 17.7. Shares are up 34.3% year to date as of the close of trading on Tuesday. TheStreet Ratings rates Ocwen Financial as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, expanding profit margins and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.
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