OceanFirst Financial (NASDAQ:OCFC) Rating Increased to Hold at StockNews.com

OceanFirst Financial (NASDAQ:OCFC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other analysts have also commented on OCFC. Stephens reissued an “equal weight” rating and set a $20.00 price target on shares of OceanFirst Financial in a research note on Friday, April 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $19.00 price target (down from $22.00) on shares of OceanFirst Financial in a research note on Monday. Raymond James cut their price target on OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, TheStreet raised OceanFirst Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.20.

OceanFirst Financial Stock Performance

Shares of OCFC stock opened at $15.44 on Monday. The business’s 50-day moving average price is $15.33 and its 200-day moving average price is $15.40. OceanFirst Financial has a 12 month low of $12.01 and a 12 month high of $19.58. The firm has a market capitalization of $919.14 million, a price-to-earnings ratio of 9.03 and a beta of 1.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On OceanFirst Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of OceanFirst Financial during the third quarter valued at approximately $34,000. International Assets Investment Management LLC grew its holdings in OceanFirst Financial by 1,240.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock worth $60,000 after buying an additional 3,213 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in OceanFirst Financial by 19.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock worth $139,000 after buying an additional 1,550 shares in the last quarter. SG Americas Securities LLC bought a new stake in OceanFirst Financial during the third quarter worth $176,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in OceanFirst Financial by 42.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,725 shares of the savings and loans company’s stock worth $184,000 after buying an additional 3,796 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

OceanFirst Financial Company Profile

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.