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

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NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) hit a new 52-week high Wednesday as it is currently trading at $25.41, above its previous 52-week high of $25.38 with 411,433 shares traded as of 12:09 p.m. ET. Average volume has been 1.6 million shares over the past 30 days.

Ocwen Financial has a market cap of $3.34 billion and is part of the financial sector and banking industry. Shares are up 71.5% year to date as of the close of trading on Tuesday.

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. The company has a P/E ratio of 33.9, below the average banking industry P/E ratio of 34.4 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, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full Ocwen Financial Ratings Report.

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