5 Stocks Pushing The Financial Sector Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

All three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading up 10 points (0.1%) at 14,085 as of Thursday, Feb. 28, 2013, 12:04 PM ET. The NYSE advances/declines ratio sits at 1,607 issues advancing vs. 1,243 declining with 160 unchanged.

The Financial sector currently sits up 0.1% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Assured Guaranty (AGO), up 4.9%, Aon plc (AON), up 1.6%, Annaly Capital Management (NLY), up 1.1% and Lloyds Banking Group (LYG), up 0.3%. On the negative front, top decliners within the sector include Royal Bank of Scotland Group (The (RBS), down 7.0%, HDFC Bank (HDB), down 4.2%, American Capital Agency (AGNC), down 3.1%, Canadian Imperial Bank of Commerce (CM), down 1.6% and Nomura Holdings (NMR), down 1.6%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Ocwen Financial Corporation (OCN) is one of the companies pushing the Financial sector higher today. As of noon trading, Ocwen Financial Corporation is up $2.02 (5.4%) to $39.81 on heavy volume Thus far, 1.6 million shares of Ocwen Financial Corporation exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $37.74-$40.22 after having opened the day at $37.74 as compared to the previous trading day's close of $37.79.

Ocwen Financial Corporation, through its subsidiaries, provides residential and commercial mortgage loan servicing, special servicing, and asset management services in the United States and internationally. Ocwen Financial Corporation has a market cap of $5.0 billion and is part of the banking industry. The company has a P/E ratio of 41.1, above the S&P 500 P/E ratio of 17.7. Shares are up 9.3% year to date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Ocwen Financial Corporation a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Ocwen Financial Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, good cash flow from operations, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Ocwen Financial Corporation Ratings Report now.

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