Ocwen Financial Plans To Change Its Name To Onity Group Inc.; Expects To Begin Trading On NYSE Under The Stock Symbol 'ONIT' In June 2024
Portfolio Pulse from Benzinga Newsdesk
Ocwen Financial announced its plan to change its name to Onity Group Inc. and expects to start trading under the new stock symbol 'ONIT' on the NYSE in June 2024. The name change proposal will be submitted at the Annual Meeting of Shareholders on May 28, 2024. While Ocwen's primary brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, will initially retain their names, they are expected to be rebranded to Onity Mortgage later in the year.
April 03, 2024 | 8:18 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ocwen Financial plans to change its name to Onity Group Inc. and will trade under the new symbol 'ONIT' starting June 2024, with its primary brands to be rebranded later in the year.
The announcement of a name change and rebranding can often lead to positive market perception, potentially increasing investor interest and stock price in the short term. The rebranding of primary brands to align with the new company name may also contribute to a unified corporate identity, potentially enhancing market and customer perception.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100