Ocwen Financial Corporation (OCN) pushed the Banking industry higher today making it today's featured banking winner. The industry as a whole closed the day down 1.6%. By the end of trading, Ocwen Financial Corporation rose 39 cents (3%) to $13.60 on heavy volume. Throughout the day, two million shares of Ocwen Financial Corporation exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in a price between $13.16-$13.65 after having opened the day at $13.36 as compared to the previous trading day's close of $13.21. Other companies within the Banking industry that increased today were: Malvern Federal Bancorp Inc (MLVF), up 13.9%, Oak Ridge Financial Services (BKOR), up 13.3%, LSB Financial Corporation (LSBI), up 11.5%, and Northern States Financial (NSFC), up 10.9%. 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 $1.47 billion and is part of the financial sector. The company has a P/E ratio of 17.8, below the average banking industry P/E ratio of 19.6 and equal to the S&P 500 P/E ratio of 17.7. Shares are up 38.5% year to date as of the close of trading on Friday. TheStreet Ratings rates Ocwen Financial as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
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