Ocwen Financial Reaches New 52-Week High (OCN)

NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) hit a new 52-week high Thursday as it is currently trading at $16.38, above its previous 52-week high of $16.33 with 332,511 shares traded as of 1:10 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 11% year to date as of the close of trading on Wednesday.

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 22.4, 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 expanding profit margins. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. You can view the full Ocwen Financial Ratings Report.

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