Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have been given an average rating of “Buy” by the eight research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.20.
Several equities analysts have recently weighed in on the company. BidaskClub cut OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. ValuEngine cut OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. 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.
OCFC stock traded down $0.69 during midday trading on Monday, hitting $26.10. The company’s stock had a trading volume of 307,971 shares, compared to its average volume of 265,108. The stock has a market capitalization of $1,288.52, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53. OceanFirst Financial has a 12 month low of $24.02 and a 12 month high of $29.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59.
OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $49.25 million for the quarter, compared to analysts’ expectations of $50.52 million. OceanFirst Financial had a return on equity of 9.48% and a net margin of 19.67%. research analysts predict that OceanFirst Financial will post 1.95 earnings per share for the current year.
In other news, Director Joseph J. Burke sold 1,490 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.73, for a total transaction of $39,827.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Angelo Catania sold 1,505 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $26.47, for a total value of $39,837.35. The disclosure for this sale can be found here. Insiders have sold a total of 27,995 shares of company stock worth $732,065 over the last three months. Insiders own 7.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OCFC. Comerica Bank increased its stake in shares of OceanFirst Financial by 3.7% in the 3rd quarter. Comerica Bank now owns 53,408 shares of the savings and loans company’s stock worth $1,483,000 after purchasing an additional 1,900 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of OceanFirst Financial in the 3rd quarter worth $165,000. Ameriprise Financial Inc. purchased a new stake in shares of OceanFirst Financial in the 3rd quarter worth $1,734,000. Trexquant Investment LP purchased a new stake in shares of OceanFirst Financial in the 3rd quarter worth $201,000. Finally, Citadel Advisors LLC increased its stake in shares of OceanFirst Financial by 127.3% in the 3rd quarter. Citadel Advisors LLC now owns 88,126 shares of the savings and loans company’s stock worth $2,422,000 after purchasing an additional 49,363 shares in the last quarter. 50.88% of the stock is currently owned by hedge funds and other institutional investors.
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OceanFirst Financial Company Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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