Ocwen Financial Corporation (OCN): Today's Featured Banking Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Ocwen Financial Corporation ( OCN) pushed the Banking industry lower today making it today's featured Banking laggard. The industry as a whole closed the day up 0.6%. By the end of trading, Ocwen Financial Corporation fell $0.64 (-1.8%) to $35.64 on heavy volume. Throughout the day, 10,803,488 shares of Ocwen Financial Corporation exchanged hands as compared to its average daily volume of 2,390,500 shares. The stock ranged in price between $33.54-$36.53 after having opened the day at $36.50 as compared to the previous trading day's close of $36.28. Other companies within the Banking industry that declined today were: VelocityShares Daily 2x VIX Short Term ETN ( TVIX), down 6.1%, Stewardship Financial Corporation ( SSFN), down 5.2%, VelocityShares 3x Inverse Silver ETN S&P GS ( DSLV), down 5.1% and VelocityShares Daily 2x VIX Medium Term ETN ( TVIZ), down 4.7%.

Ocwen Financial Corporation, through its subsidiaries, engages in the servicing and origination of mortgage loans in the United States and internationally. Ocwen Financial Corporation has a market cap of $5.0 billion and is part of the financial sector. Shares are down 33.5% year to date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Ocwen Financial Corporation a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Ocwen Financial Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, expanding profit margins, notable return on equity and compelling growth in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the positive front, Royal Bancshares of Pennsylvania ( RBPAA), up 16.5%, Howard Bancorp Inc Md ( HBMD), up 14.3%, First Federal Bancshares of Arkansas ( FFBH), up 7.3% and Intermountain Community Bancorp ( IMCB), up 5.7% , were all gainers within the banking industry with BB&T ( BBT) being today's featured banking industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the banking industry could consider KBW Bank ETF ( KBE) while those bearish on the banking industry could consider ProShares Short KBW Regional Bankng ( KRS).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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