OceanFirst Financial Corp. (NASDAQ:OCFC) CAO Joseph R. Iantosca sold 5,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $26.40, for a total value of $132,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
OceanFirst Financial Corp. (NASDAQ OCFC) traded up $0.03 during trading on Wednesday, hitting $26.12. The stock had a trading volume of 87,300 shares, compared to its average volume of 195,922. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.94 and a quick ratio of 0.94. OceanFirst Financial Corp. has a 12 month low of $24.02 and a 12 month high of $30.65. The firm has a market cap of $850.08, a PE ratio of 15.35, a P/E/G ratio of 1.37 and a beta of 0.56.
OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. OceanFirst Financial had a return on equity of 9.54% and a net margin of 19.67%. The company had revenue of $49.25 million during the quarter, compared to analysts’ expectations of $50.52 million. research analysts anticipate that OceanFirst Financial Corp. will post 1.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 2.30%. OceanFirst Financial’s payout ratio is presently 46.88%.
A number of institutional investors and hedge funds have recently modified their holdings of OCFC. SG Americas Securities LLC acquired a new position in OceanFirst Financial in the 3rd quarter worth about $165,000. Trexquant Investment LP acquired a new position in OceanFirst Financial in the 3rd quarter worth about $201,000. Legal & General Group Plc increased its holdings in OceanFirst Financial by 16.2% in the 2nd quarter. Legal & General Group Plc now owns 7,589 shares of the savings and loans company’s stock worth $206,000 after purchasing an additional 1,058 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in OceanFirst Financial in the 3rd quarter worth about $224,000. Finally, Teacher Retirement System of Texas acquired a new position in OceanFirst Financial in the 4th quarter worth about $249,000. 71.11% of the stock is owned by institutional investors and hedge funds.
OCFC has been the subject of a number of recent analyst reports. BidaskClub downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Zacks Investment Research raised OceanFirst Financial from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday, November 2nd. ValuEngine raised OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $37.00 price target on shares of OceanFirst Financial in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. OceanFirst Financial currently has a consensus rating of “Buy” and an average price target of $31.83.
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OceanFirst Financial Company Profile
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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