OceanFirst Financial Corp. (NASDAQ:OCFC) Director Angelo Catania sold 1,505 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.47, for a total transaction of $39,837.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
OceanFirst Financial Corp. (NASDAQ OCFC) opened at $26.60 on Thursday. OceanFirst Financial Corp. has a fifty-two week low of $24.02 and a fifty-two week high of $30.65. The company has a market cap of $858.22, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56. 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 (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. OceanFirst Financial had a net margin of 19.67% and a return on equity of 9.54%. The firm had revenue of $49.25 million for the quarter, compared to the consensus estimate of $50.52 million. equities research analysts predict that OceanFirst Financial Corp. will post 1.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a $0.15 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.60 annualized dividend and a dividend yield of 2.26%. OceanFirst Financial’s dividend payout ratio is currently 46.88%.
OCFC has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub upgraded shares of OceanFirst Financial from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $37.00 price objective on shares of OceanFirst Financial in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $31.00 price objective on shares of OceanFirst Financial in a report on Friday, October 27th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $31.83.
Several large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC acquired a new position in shares of OceanFirst Financial in the fourth quarter valued at $975,000. MetLife Investment Advisors LLC bought a new stake in shares of OceanFirst Financial in the fourth quarter valued at about $397,000. LPL Financial LLC boosted its position in shares of OceanFirst Financial by 16.9% in the fourth quarter. LPL Financial LLC now owns 15,543 shares of the savings and loans company’s stock valued at $408,000 after acquiring an additional 2,243 shares during the period. Millennium Management LLC boosted its position in shares of OceanFirst Financial by 313.9% in the fourth quarter. Millennium Management LLC now owns 314,323 shares of the savings and loans company’s stock valued at $8,251,000 after acquiring an additional 238,373 shares during the period. Finally, Clover Partners L.P. bought a new stake in shares of OceanFirst Financial in the fourth quarter valued at about $3,848,000. Hedge funds and other institutional investors own 72.22% of the company’s stock.
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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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