OceanFirst Financial Corp. (OCFC) Given $32.50 Average Target Price by Brokerages

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus target price of $32.50 for the company and are anticipating that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also given OceanFirst Financial Corp. an industry rank of 56 out of 265 based on the ratings given to its competitors.

A number of equities analysts have recently commented on OCFC shares. Zacks Investment Research lowered shares of OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Sandler O’Neill lowered shares of OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a report on Monday, January 30th.

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) traded up 1.15% on Tuesday, hitting $28.07. The stock had a trading volume of 147,994 shares. The company has a 50 day moving average of $28.00 and a 200-day moving average of $26.26. The firm has a market capitalization of $892.88 million, a P/E ratio of 28.64 and a beta of 0.59. OceanFirst Financial Corp. has a 12-month low of $16.77 and a 12-month high of $30.70.

OceanFirst Financial Corp. (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, January 26th. The savings and loans company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $42.01 million for the quarter, compared to analyst estimates of $44 million. OceanFirst Financial Corp. had a net margin of 14.98% and a return on equity of 9.82%. Equities analysts predict that OceanFirst Financial Corp. will post $1.59 EPS for the current fiscal year.

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In related news, Director Steven E. Brady sold 15,850 shares of OceanFirst Financial Corp. stock in a transaction on Monday, March 6th. The shares were sold at an average price of $28.63, for a total transaction of $453,785.50. Following the completion of the transaction, the director now owns 70,317 shares of the company’s stock, valued at $2,013,175.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Garbarino sold 3,000 shares of OceanFirst Financial Corp. stock in a transaction on Monday, February 13th. The stock was sold at an average price of $29.00, for a total transaction of $87,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,642 shares of company stock worth $3,996,784. 11.10% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in OCFC. Alpine Woods Capital Investors LLC increased its position in shares of OceanFirst Financial Corp. by 2.4% in the third quarter. Alpine Woods Capital Investors LLC now owns 21,500 shares of the savings and loans company’s stock worth $414,000 after buying an additional 500 shares in the last quarter. First Trust Advisors LP increased its position in shares of OceanFirst Financial Corp. by 2.0% in the third quarter. First Trust Advisors LP now owns 36,519 shares of the savings and loans company’s stock worth $703,000 after buying an additional 714 shares in the last quarter. Two Sigma Investments LP increased its position in shares of OceanFirst Financial Corp. by 1.0% in the fourth quarter. Two Sigma Investments LP now owns 116,906 shares of the savings and loans company’s stock worth $3,511,000 after buying an additional 1,120 shares in the last quarter. Private Capital Management LLC increased its position in shares of OceanFirst Financial Corp. by 0.6% in the third quarter. Private Capital Management LLC now owns 348,327 shares of the savings and loans company’s stock worth $6,709,000 after buying an additional 1,961 shares in the last quarter. Finally, Foresters Investment Management Company Inc. increased its position in shares of OceanFirst Financial Corp. by 1.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 267,500 shares of the savings and loans company’s stock worth $7,993,000 after buying an additional 3,500 shares in the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.

OceanFirst Financial Corp. 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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