Ocwen Financial Rises On Unusually High Volume (OCN)
Ocwen Financial Corporation (NYSE:OCN) is trading at unusually high volume Thursday with 3.5 million shares changing hands. It is currently at two times its average daily volume and trading up 75 cents (+2.1%).
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. NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) is trading at unusually high volume Thursday with 3.5 million shares changing hands. It is currently at two times its average daily volume and trading up 75 cents (+2.1%) at $37.21 as of 2:25 p.m. ET.
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.
Ocwen Financial has a market cap of $4.96 billion and is part of the financial sector and banking industry. Shares are up 5.4% year to date as of the close of trading on Wednesday. Ocwen Financial Corporation, through its subsidiaries, engages in the servicing and origination of mortgage loans in the United States and internationally. The company has a P/E ratio of 27.9, 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. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.