BidaskClub lowered shares of OceanFirst Financial (NASDAQ:OCFC) from a hold rating to a sell rating in a research report released on Saturday.
Several other brokerages also recently commented on OCFC. Piper Jaffray Companies reaffirmed a buy rating and set a $31.00 target price on shares of OceanFirst Financial in a report on Friday, October 27th. ValuEngine raised OceanFirst Financial from a hold rating to a buy rating in a report on Friday, December 1st. Zacks Investment Research raised OceanFirst Financial from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Thursday, November 2nd. Hovde Group assumed coverage on OceanFirst Financial in a report on Monday, October 9th. They set an outperform rating and a $32.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $37.00 target price on shares of OceanFirst Financial in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $31.83.
OceanFirst Financial (OCFC) traded up $0.34 during midday trading on Friday, hitting $27.97. The company had a trading volume of 116,883 shares, compared to its average volume of 137,901. The firm has a market cap of $911.32, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. OceanFirst Financial has a 12 month low of $24.02 and a 12 month high of $30.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94.
In other news, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total value of $77,420.00. Following the transaction, the director now directly owns 72,562 shares of the company’s stock, valued at approximately $2,006,339.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.00% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of 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 valued at $206,000 after purchasing an additional 1,058 shares during the period. Voya Investment Management LLC lifted its stake in shares of OceanFirst Financial by 13.3% in the 2nd quarter. Voya Investment Management LLC now owns 14,308 shares of the savings and loans company’s stock valued at $388,000 after purchasing an additional 1,683 shares during the period. Comerica Bank lifted 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 valued at $1,483,000 after purchasing an additional 1,900 shares during the period. Silver Capital Management LLC lifted its stake in shares of OceanFirst Financial by 10.2% in the 3rd quarter. Silver Capital Management LLC now owns 20,700 shares of the savings and loans company’s stock valued at $569,000 after purchasing an additional 1,910 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of OceanFirst Financial by 4.7% in the 2nd quarter. California Public Employees Retirement System now owns 47,154 shares of the savings and loans company’s stock valued at $1,279,000 after purchasing an additional 2,100 shares during the period. 70.93% of the stock is currently owned by institutional investors.
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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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