Ocwen Financial Q1 2024 GAAP EPS $3.74 Beats $1.11 Estimate, Sales $239.100M Miss $270.369M Estimate

5/2/24 7:07:07 AM ET

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Ocwen Financial (NYSE:OCN) reported quarterly earnings of $3.74 per share which beat the analyst consensus estimate of $1.11 by 236.94 percent. This is a 170.04 percent increase over losses of $(5.34) per share from the same period last year. The company reported quarterly sales of $239.100 million which missed the analyst consensus estimate of $270.369 million by 11.57 percent. This is a 8.67 percent decrease over sales of $261.800 million the same period last year.

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Recent Analyst Ratings for
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Date	Price Target	Rating	Analyst
4/21/2022		Neutral	BTIG Research
12/8/2021	$50.00 → $56.00	Buy	B. Riley Securities
9/9/2021	$50.00	Buy	B. Riley Securities
6/30/2021	$36.00	Buy	Jefferies

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Ocwen Financial Officially Rebrands as Onity™ Group
WEST PALM BEACH, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE:ONIT) ("Onity" or the "Company"), a leading non-bank mortgage servicer and originator, today announced that it has officially started operating under its new brand name effective Monday, June 10, 2024, replacing its former name, Ocwen Financial Corporation. The Company's common stock is expected to begin trading on the New York Stock Exchange under the symbol "ONIT" at market open today. Glen A. Messina, Chair, President and CEO of Onity Group, said, "Today marks the start of a new era for our Company and signifies our transformation, growth and expansion into a balanced and diversified business. We are proud
6/10/24 6:45:00 AM ET
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Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group
New name and NYSE trading symbol ("ONIT") expected to be effective June 10, 2024PHH Mortgage expected to rebrand to Onity Mortgage in the fall of 2024 WEST PALM BEACH, Fla., May 28, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced that the Company has obtained the necessary approval from its shareholders to change the name of Ocwen to Onity™ Group Inc. Glen A. Messina, Chair, President and CEO of Ocwen, said, "We are very pleased that our shareholders have approved our name change to Onity Group. We look forward to this new chapter in our Company's history and to operating unde
5/28/24 4:15:00 PM ET
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Ocwen Financial Announces First Quarter 2024 Results
Net income of $30 million and diluted earnings per share of $3.74; annualized return on equity of 29%Adjusted pre-tax income of $14 million, driven by servicing segment; achieved 13.8% annualized adjusted pre-tax return on equityRepurchased $47 million in PHH senior secured notes below par$23 billion in total servicing additions ($19 billion in subservicing additions)Moody's Ratings upgraded corporate family rating to B3 in April 2024 WEST PALM BEACH, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced its first quarter 2024 results and provided a business update.
5/2/24 6:45:00 AM ET
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Ocwen Financial Corporation Announces Appointment of Claudia Merkle to Board of Directors
WEST PALM BEACH, Fla., April 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced the appointment of Claudia J. Merkle to its Board of Directors ("Board"), effective April 1, 2024. "We are very pleased to welcome Claudia to the Ocwen Board," said Glen A. Messina, Chair, President and CEO of Ocwen. "Claudia is an accomplished and well-respected mortgage industry executive with deep public company experience. Her collaborative leadership style and significant industry knowledge spanning risk management and technology innovation to sales and operations, as well as emerging corporat
4/2/24 6:45:00 AM ET
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Selina Announces Key Board Appointment and Formation of New Board Committee
Selina Hospitality PLC ("Selina" or the "Company"), (NASDAQ:SLNA), the fast-growing lifestyle and experiential hospitality company targeting millennial and Gen Z travelers, is proud to announce the appointment of Alan Bowers as the newest independent director on its Board of Directors, effective as of March 17, 2023. In addition, as part of Selina's commitment to corporate governance, the Board has established a Finance and Capital Allocation Committee to help oversee budgeting, capital allocation and significant transactions. Catherine Dunleavy, who has stepped down as chair of, but remains a member of, the Audit Committee was appointed as chair of the new committee. The establishment of t
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Ocwen Financial Appoints Sean O'Neil Executive Vice President and Chief Financial Officer
WEST PALM BEACH, Fla., May 18, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced the appointment of Sean O'Neil as Executive Vice President and Chief Financial Officer, effective June 13, 2022. Mr. O'Neil brings to Ocwen significant financial leadership experience in the mortgage sector, and he will be responsible for leading the Company's global finance organization. He joins Ocwen from Bayview Asset Management, LLC, where he served as the company's Chief Financial Officer since 2015. Prior to this role, he held a number of senior positions at financial institutions, including s
5/18/22 4:15:00 PM ET
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Ocwen Financial Announces First Quarter 2024 Results
Net income of $30 million and diluted earnings per share of $3.74; annualized return on equity of 29%Adjusted pre-tax income of $14 million, driven by servicing segment; achieved 13.8% annualized adjusted pre-tax return on equityRepurchased $47 million in PHH senior secured notes below par$23 billion in total servicing additions ($19 billion in subservicing additions)Moody's Ratings upgraded corporate family rating to B3 in April 2024 WEST PALM BEACH, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced its first quarter 2024 results and provided a business update.
5/2/24 6:45:00 AM ET
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Ocwen Financial Schedules Conference Call – First Quarter 2024 Results and Business Update
WEST PALM BEACH, Fla., April 24, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, May 2, 2024 at 8:30 a.m. (ET) to review the Company's first quarter 2024 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (800) 343-4849 or (203) 518-9848 approximately 10 minutes prior to the call; please reference the conference ID "Ocwen." Participants can also access the conference call through a live audio webcast available from the Shareholder Relat
4/24/24 5:24:05 PM ET
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Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results
Net loss of $64 million for 2023, driven by $89 million reduction in unrealized MSR value change due to rates and assumptions, net of hedgeAdjusted pre-tax income of $49 million for 2023, driven by strong servicing performanceAchieved GAAP operating expense reduction over $120 million, or 23%, compared to 2022Total liquidity of $242 million as of December 31, 2023, an increase of 10% over December 31, 2022 WEST PALM BEACH, Fla., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced its full year and fourth quarter 2023 results and provided a busin
2/27/24 6:45:00 AM ET
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Ocwen Financial Q1 2024 GAAP EPS $3.74 Beats $1.11 Estimate, Sales $239.100M Miss $270.369M Estimate

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$OCN Insider Trading

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Busquet Jacques J was granted 4,792 shares, increasing direct ownership by 12% to 45,010 units (SEC Form 4)

Bowers Alan J was granted 4,792 shares, increasing direct ownership by 15% to 36,177 units (SEC Form 4)

Stein Kevin was granted 4,792 shares, increasing direct ownership by 108% to 9,216 units (SEC Form 4)

$OCN Market Insights

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Ocwen Financial Officially Starts Operating Under Its New Brand Name Onity Group, Effective June 10; To Begin Trading On NYSE Under Symbol 'ONIT' At Market Open Today

Ocwen Financial Announces Shareholder Approval To Rebrand As Onity Group; New Name And NYSE Trading Symbol "ONIT" Expected To Be Effective June 10, 2024

Keefe, Bruyette & Woods Maintains Market Perform on Ocwen Financial, Raises Price Target to $32

$OCN SEC Filings

Ocwen Financial Corporation NEW filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form S-8 filed by Ocwen Financial Corporation NEW

Ocwen Financial Corporation NEW filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits

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BTIG Research initiated coverage on Ocwen Fincl

B. Riley Securities reiterated coverage on Ocwen Finl with a new price target

B. Riley Securities initiated coverage on Ocwen Finl with a new price target

$OCN Large Ownership Changes

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SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

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$OCN Leadership Updates

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Ocwen Financial Officially Rebrands as Onity™ Group

Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group

Ocwen Financial Announces First Quarter 2024 Results

Ocwen Financial Corporation Announces Appointment of Claudia Merkle to Board of Directors

Selina Announces Key Board Appointment and Formation of New Board Committee

Ocwen Financial Appoints Sean O'Neil Executive Vice President and Chief Financial Officer

$OCN Financials

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Ocwen Financial Announces First Quarter 2024 Results

Ocwen Financial Schedules Conference Call – First Quarter 2024 Results and Business Update

Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results

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