Sterne Agee Provides Color on Ocwen Financial

Sterne Agee provided color on Ocwen Financial's OCN 4Q 2011 earnings results in a research report out today, noting in particular the impact of the costs associated with the company's Litton acquisition. Presently, Sterne Agee has a Buy rating and $18 price target on Ocwen Financial. In the report, "OCN reported 4Q11 EPS of $0.08 per share vs. $0.09 in the year ago period. Results reflect the impact of $31.3 million in costs tied to integrating the Litton acquisition and $3.6 million in losses on foreign exchange contracts." Shares of Ocwen Financial Corporation are currently trading at $15.70, down 0.32% from yesterday's close.