Ocwen Financial Stock Hits New 52-Week High (OCN)

NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) hit a new 52-week high Tuesday as it is currently trading at $15.73, above its previous 52-week high of $15.72 with 529,917 shares traded as of 2:59 p.m. ET. Average volume has been 1.2 million shares over the past 30 days.

Ocwen Financial has a market cap of $1.44 billion and is part of the financial sector and banking industry. Shares are up 8.4% year to date as of the close of trading on Friday.

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. The company has a P/E ratio of 21.5, above the average banking industry P/E ratio of 19.2 and above the S&P 500 P/E ratio of 17.7.

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. You can view the full Ocwen Financial Ratings Report.

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