OceanFirst Financial (NASDAQ:OCFC) Receives “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a research report released on Monday morning, Benzinga reports. The firm currently has a $19.00 target price on the savings and loans company’s stock, down from their previous target price of $22.00.

A number of other analysts have also weighed in on OCFC. Raymond James increased their price objective on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock an outperform rating in a research note on Monday, January 22nd. Stephens reiterated an equal weight rating and issued a $20.00 price objective on shares of OceanFirst Financial in a research note on Friday. TheStreet upgraded shares of OceanFirst Financial from a c+ rating to a b- rating in a research report on Monday, January 8th. Finally, StockNews.com lowered shares of OceanFirst Financial from a hold rating to a sell rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $18.20.

OceanFirst Financial Stock Down 1.3 %

NASDAQ:OCFC opened at $14.98 on Monday. The firm has a market capitalization of $891.79 million, a P/E ratio of 8.76 and a beta of 1.00. OceanFirst Financial has a 1-year low of $12.01 and a 1-year high of $19.58. The company’s fifty day moving average price is $15.32 and its 200-day moving average price is $15.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.98.

OceanFirst Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $0.20 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.80 annualized dividend and a dividend yield of 5.34%. OceanFirst Financial’s dividend payout ratio (DPR) is 46.78%.

Institutional Trading of OceanFirst Financial

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of OceanFirst Financial by 1.8% in the third quarter. Vanguard Group Inc. now owns 3,295,098 shares of the savings and loans company’s stock valued at $47,680,000 after purchasing an additional 57,423 shares during the period. Boston Partners grew its position in shares of OceanFirst Financial by 11.1% in the third quarter. Boston Partners now owns 1,394,141 shares of the savings and loans company’s stock valued at $19,660,000 after purchasing an additional 139,646 shares during the period. Invesco Ltd. grew its position in shares of OceanFirst Financial by 3.4% in the third quarter. Invesco Ltd. now owns 1,234,836 shares of the savings and loans company’s stock valued at $17,868,000 after purchasing an additional 40,030 shares during the period. Goldman Sachs Group Inc. grew its position in shares of OceanFirst Financial by 6.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,046,061 shares of the savings and loans company’s stock valued at $18,160,000 after purchasing an additional 66,868 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of OceanFirst Financial by 20.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 834,391 shares of the savings and loans company’s stock valued at $14,485,000 after purchasing an additional 139,047 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

About OceanFirst Financial

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.