KBW analyst Bose George says it's time to accumulate Ocwen, after the high-flying loan servicer's shares pulled back 4% over five trading session amid fears that two major acquisitions could be delayed.
While KBW didn't raise its earnings estimates or price target for the shares, George upgraded Ocwen because of "the upside to our $40 price target." The analyst estimates that Ocwen will earn $4.66 a share in 2013, with EPS increasing to $5.32 in 2014. Ocwen's shares were up a whopping 138% year-to-date, through Wednesday's close, however, the shares were still trading for a relatively low 7.7 times the consensus 2013 EPS estimate of $4.46, among analysts polled by Thomson Reuters. The consensus 2014 EPS estimate is $5.02. OCN data by YCharts Interested in more on Ocwen Financial? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn