According to Seeking Alpha, Ocwen Financial (OCN) is no longer a buy at Wells Fargo (WFC) due to lower profits and higher fees.
Citing lower margins amid the onboarding of new acquisitions, higher servicing fees set to impact earnings next year, and the massive run higher in the stock, Wells' Joel Houck cuts Ocwen to Hold with price target range reduced to $49-$54 from $55-$61.
