OceanFirst Financial (NASDAQ:OCFC) Earns Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of OceanFirst Financial (NASDAQ:OCFCFree Report) in a research note released on Friday morning, MarketBeat.com reports. Keefe, Bruyette & Woods currently has a $18.00 price objective on the savings and loans company’s stock, down from their prior price objective of $19.00.

Several other equities research 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. StockNews.com upgraded OceanFirst Financial from a sell rating to a hold rating in a research report on Monday, April 22nd. Finally, Raymond James dropped their price target on OceanFirst Financial from $22.00 to $20.00 and set an outperform rating for the company in a research report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $18.00.

Check Out Our Latest Stock Analysis on OceanFirst Financial

OceanFirst Financial Trading Up 2.9 %

NASDAQ:OCFC opened at $15.05 on Friday. OceanFirst Financial has a 1 year low of $12.01 and a 1 year high of $19.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $15.77. The stock has a market capitalization of $883.59 million, a price-to-earnings ratio of 8.80 and a beta of 1.01.

OceanFirst Financial (NASDAQ:OCFCGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $98.51 million during the quarter, compared to the consensus estimate of $95.45 million. OceanFirst Financial had a net margin of 15.54% and a return on equity of 6.17%. As a group, sell-side analysts anticipate that OceanFirst Financial will post 1.71 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.80 annualized dividend and a dividend yield of 5.32%. OceanFirst Financial’s dividend payout ratio is currently 46.78%.

Insider Buying and Selling

In other OceanFirst Financial news, EVP Brian Schaeffer sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.49, for a total value of $54,215.00. Following the transaction, the executive vice president now directly owns 41,868 shares in the company, valued at approximately $648,535.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OceanFirst Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in OceanFirst Financial in the 3rd quarter worth approximately $34,000. Acadian Asset Management LLC acquired a new stake in shares of OceanFirst Financial during the first quarter worth $39,000. International Assets Investment Management LLC grew its position in shares of OceanFirst Financial by 1,240.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock valued at $60,000 after purchasing an additional 3,213 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in OceanFirst Financial by 19.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock valued at $139,000 after purchasing an additional 1,550 shares during the last quarter. Finally, EMC Capital Management purchased a new position in OceanFirst Financial during the first quarter worth about $150,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

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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