Last $38.00 USD
Change Today +0.20 / 0.53%
Volume 2.6M
OCN On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 04/24/14 All times are local (Market data is delayed by at least 15 minutes).

ocwen financial corp (OCN) Snapshot

Open
$38.00
Previous Close
$37.80
Day High
$38.66
Day Low
$37.37
52 Week High
10/28/13 - $60.18
52 Week Low
02/20/14 - $33.54
Market Cap
5.1B
Average Volume 10 Days
2.1M
EPS TTM
$2.78
Shares Outstanding
135.4M
EX-Date
--
P/E TM
13.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for OCWEN FINANCIAL CORP (OCN)

ocwen financial corp (OCN) Related Businessweek News

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ocwen financial corp (OCN) Details

Ocwen Financial Corporation, through its subsidiaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. The company’s Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate. This segments residential servicing portfolio includes conventional; government insured; and non-agency loans, such as subprime loans. Ocwen Financial Corporation’s Lending segment is involved in originating and purchasing conventional and government insured residential forward, and reverse mortgage loans primarily through its correspondent lending arrangements, as well as offers direct lending services. The company was founded in 1988 and is headquartered in Atlanta, Georgia.

10,100 Employees
Last Reported Date: 03/3/14
Founded in 1988

ocwen financial corp (OCN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $540.0K
Executive Chairman and Chairman of Executive ...
Total Annual Compensation: $725.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $393.9K
Executive Vice President, General Counsel and...
Total Annual Compensation: $242.3K
Senior Vice President of International Tax Pl...
Total Annual Compensation: $166.7K
Compensation as of Fiscal Year 2013.

ocwen financial corp (OCN) Key Developments

California's Department of Business Oversight Joins Ocwen's $2.1 Billion Settlement

California's Department of Business Oversight announced that it is joining a $2.1 billion settlement with Ocwen Financial over mortgage servicing violations. The move means that an estimated $268 million will be available to assist Ocwen's troubled borrowers in California. The Ocwen settlement stems from federal litigation filed last December by 49 state attorneys general and the Consumer Financial Protection Bureau. In California, violations of state law included impropertly denying loan modifications, failing to honor loan modifications granted by prior servicers and charging unathorized fees. On Feb. 28, a federal judge finalized a settlement between Ocwen and the plaintiffs. That agreement requires all the proceeds to directly benefit consumers and that no payments go to the federal government or any states.

Ocwen Financial Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Ocwen Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. The company reported net income of $105.3 million, or $0.74 per share, for the fourth quarter of 2013 compared to net income of $65.3 million, or $0.47 per share, for the fourth quarter of 2012. Ocwen generated revenue of $556.0 million, up 135% from the fourth quarter of 2012. Income from operations grew by 56% to $215.1 million for the fourth quarter of 2013 as compared to $137.5 million for the fourth quarter of 2012. Pre-tax earnings on a GAAP basis for the fourth quarter of 2013 were $120.1 million, a 57% increase as compared to the fourth quarter of 2012. Ocwen's normalized pre-tax earnings for the fourth quarter of 2013 were $166.9 million, a 100% increase from the fourth quarter of 2012. Income from operations was $215.079 million against $137.493 million a year ago. Income before income taxes was $120.103 million against $76.479 million a year ago. Net income attributable to Ocwen common stockholders was $104.282 million or $0.74 diluted per share against $65.196 million or $0.47 diluted per share a year ago. Full year net income for 2013 is $294.1 million, or $2.02 per share, as compared to $180.9 million, or $1.31 per share, for 2012. Revenue for 2013 of $2.0 billion is a 141% increase from 2012. Full year pre-tax earnings on a GAAP basis for 2013 were $335.2 million, a 30% increase over 2012. Full year normalized pre-tax earnings for 2013 increased by 101% over 2012 from $289.4 million to $581.2 million. Income from operations was $736.979 million against $481.296 million a year ago. Income before income taxes was $335.223 million against $257.508 million a year ago. Net income attributable to Ocwen common stockholders was $282.129 million or $2.02 diluted per share against $180.778 million or $1.31 diluted per share a year ago.

Ocwen Financial Corp., Q4 2013 Earnings Call, Feb 27, 2014

Ocwen Financial Corp., Q4 2013 Earnings Call, Feb 27, 2014

 

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Industry Analysis

OCN

Industry Average

Valuation OCN Industry Range
Price/Earnings 18.7x
Price/Sales 2.6x
Price/Book 2.8x
Price/Cash Flow 8.9x
TEV/Sales NM Not Meaningful
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