OceanFirst Financial Corp. (NASDAQ:OCFC) CAO Joseph R. Iantosca sold 5,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $26.40, for a total value of $132,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
OceanFirst Financial Corp. (OCFC) opened at $25.96 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.55. OceanFirst Financial Corp. has a 1-year low of $24.02 and a 1-year high of $30.65. The company has a market capitalization of $845.84, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.56.
OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. OceanFirst Financial had a return on equity of 9.54% and a net margin of 19.67%. The firm had revenue of $49.25 million for the quarter, compared to analyst estimates of $50.52 million. equities research analysts predict that OceanFirst Financial Corp. will post 1.9 earnings per share for the current year.
A number of equities research analysts recently weighed in on OCFC shares. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, February 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $37.00 price target on shares of OceanFirst Financial in a research note on Friday, December 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $31.00 price target on shares of OceanFirst Financial in a research note on Friday, October 27th. ValuEngine raised OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, BidaskClub raised OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $31.67.
A number of hedge funds and other institutional investors have recently modified their holdings of OCFC. Northern Trust Corp grew its holdings in shares of OceanFirst Financial by 9.5% during the 2nd quarter. Northern Trust Corp now owns 668,839 shares of the savings and loans company’s stock worth $18,139,000 after purchasing an additional 58,097 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of OceanFirst Financial by 10.5% during the 3rd quarter. California Public Employees Retirement System now owns 52,115 shares of the savings and loans company’s stock worth $1,433,000 after purchasing an additional 4,961 shares in the last quarter. Commonwealth Equity Services Inc grew its holdings in shares of OceanFirst Financial by 49.9% during the 3rd quarter. Commonwealth Equity Services Inc now owns 53,612 shares of the savings and loans company’s stock worth $1,473,000 after purchasing an additional 17,837 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of OceanFirst Financial during the 3rd quarter worth $366,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of OceanFirst Financial by 7.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,442,218 shares of the savings and loans company’s stock worth $39,647,000 after purchasing an additional 97,697 shares in the last quarter. 71.05% of the stock is currently owned by hedge funds and other 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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