OCN Stock Summary and Trading Ideas (Ocwen Financial New | NYSE:OCN)

Ocwen Financial Corp is a financial service company that services and originates loans. Its segment is The Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services. The Origination segment purchases residential mortgage loans that promptly sell or securitize on a servicing retained basis. The company generates a majority of its revenue from the Servicing segment. The Corporate segment has regulation and supervision by federal, state, local, and foreign governmental authorities, including the CFPB, HUD, the SEC, and various state agencies that license its servicing and lending activities. Geographically, it generates a majority of its revenue from the United States. It generates revenue from the servicing segment.

Ocwen Financial New trades on the NYSE stock market under the symbol OCN.

As of April 19, 2024, OCN stock price declined to $22.72 with 1,280 million shares trading.

OCN has a market cap of $174.42 million. This is considered a Micro Cap stock.

Last quarter Ocwen Financial New reported $277 million in Revenue and $1.44 earnings per share. This beat revenue expectation by $16 million and exceeded earnings estimates by $.35.

In the last 3 years, OCN stock traded as high as $41.92 and as low as $17.76.

The top ETF exchange traded funds that OCN belongs to (by Net Assets): VTI, IWM, VXF, IWN, DFAT.

OCN has underperformed the market in the last year with a price return of -23.2% while the SPY ETF gained +22.3%. OCN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -21.2% and -10.6%, respectively, while the SPY returned +5.2% and -2.6%, respectively.

OCN support price is $22.25 and resistance is $23.87 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OCN stock will trade within this expected range on the day.