Weekly Investment Analysts’ Ratings Updates for OceanFirst Financial (OCFC)

OceanFirst Financial (NASDAQ: OCFC) recently received a number of ratings updates from brokerages and research firms:

  • 3/16/2018 – OceanFirst Financial was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/7/2018 – OceanFirst Financial was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 3/5/2018 – OceanFirst Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 2/27/2018 – OceanFirst Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 2/12/2018 – OceanFirst Financial had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $32.00 price target on the stock.
  • 2/5/2018 – OceanFirst Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 2/1/2018 – OceanFirst Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. “
  • 1/30/2018 – OceanFirst Financial was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/30/2018 – OceanFirst Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. “
  • 1/20/2018 – OceanFirst Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) opened at $27.53 on Friday. The company has a market capitalization of $1,334.55, a P/E ratio of 21.51, a PEG ratio of 1.42 and a beta of 0.57. OceanFirst Financial Corp. has a 12-month low of $24.02 and a 12-month high of $29.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.92.

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OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. The business had revenue of $49.25 million during 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%. sell-side analysts anticipate that OceanFirst Financial Corp. will post 1.95 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 2nd. OceanFirst Financial’s payout ratio is 46.88%.

In related news, Director Angelo Catania sold 1,505 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Joseph R. Iantosca sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $26.40, for a total value of $132,000.00. The disclosure for this sale can be found here. Insiders have sold 27,995 shares of company stock valued at $732,065 over the last quarter. 7.00% of the stock is owned by company insiders.

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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