Shares of OceanFirst Financial Corp. (NASDAQ:OCFC – Get Free Report) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.00.
OCFC has been the subject of several research analyst reports. Stephens reiterated an “equal weight” rating and set a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. Raymond James reduced their price objective on shares of OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Hovde Group dropped their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, January 27th.
Check Out Our Latest Stock Analysis on OceanFirst Financial
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its position in OceanFirst Financial by 0.7% during the 3rd quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company’s stock valued at $1,329,000 after purchasing an additional 494 shares during the period. Envestnet Asset Management Inc. lifted its stake in OceanFirst Financial by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company’s stock valued at $352,000 after buying an additional 716 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of OceanFirst Financial by 8.1% during the fourth quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company’s stock valued at $212,000 after acquiring an additional 882 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of OceanFirst Financial by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,732 shares of the savings and loans company’s stock valued at $592,000 after acquiring an additional 1,141 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of OceanFirst Financial by 1,036.4% during the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after acquiring an additional 1,337 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.
OceanFirst Financial Trading Down 1.3 %
NASDAQ OCFC opened at $14.76 on Tuesday. The firm has a 50-day moving average price of $17.08 and a 200 day moving average price of $18.25. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $864.30 million, a P/E ratio of 8.95 and a beta of 0.94. OceanFirst Financial has a 52-week low of $14.03 and a 52-week high of $21.87.
OceanFirst Financial (NASDAQ:OCFC – Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. Equities research analysts expect that OceanFirst Financial will post 1.6 EPS for the current year.
OceanFirst Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.80 annualized dividend and a yield of 5.42%. OceanFirst Financial’s payout ratio is 48.48%.
OceanFirst Financial Company Profile
(Get Free Report
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.
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