Oconee Federal Financial (NASDAQ:OFED) Short Interest Update

Oconee Federal Financial (NASDAQ:OFED) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 42,700 shares, a growth of 33.9% from the May 30th total of 31,900 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 4,800 shares, the days-to-cover ratio is presently 8.9 days.

Shares of OFED stock traded down $0.26 on Friday, reaching $23.44. 656 shares of the company’s stock traded hands, compared to its average volume of 10,993. Oconee Federal Financial has a 12-month low of $22.26 and a 12-month high of $28.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $136.26 million, a P/E ratio of 38.23 and a beta of 0.18. The company has a 50 day moving average of $23.16.

Oconee Federal Financial (NASDAQ:OFED) last issued its earnings results on Tuesday, May 14th. The savings and loans company reported $0.16 EPS for the quarter. Oconee Federal Financial had a return on equity of 4.30% and a net margin of 18.60%. The firm had revenue of $4.30 million for the quarter.

Separately, TheStreet downgraded Worthington Industries from a “b-” rating to a “c+” rating in a report on Monday, June 10th.

Hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. grew its stake in Oconee Federal Financial by 89.7% in the fourth quarter. American International Group Inc. now owns 1,193 shares of the savings and loans company’s stock valued at $30,000 after purchasing an additional 564 shares in the last quarter. Deutsche Bank AG grew its stake in Oconee Federal Financial by 27.0% in the fourth quarter. Deutsche Bank AG now owns 2,370 shares of the savings and loans company’s stock valued at $58,000 after purchasing an additional 504 shares in the last quarter. Northern Trust Corp purchased a new position in Oconee Federal Financial in the fourth quarter valued at about $244,000. Finally, BlackRock Inc. grew its stake in Oconee Federal Financial by 48.3% in the fourth quarter. BlackRock Inc. now owns 75,418 shares of the savings and loans company’s stock valued at $1,878,000 after purchasing an additional 24,570 shares in the last quarter. Hedge funds and other institutional investors own 4.13% of the company’s stock.

About Oconee Federal Financial

Oconee Federal Financial Corp. operates as a holding company for Oconee Federal Savings and Loan Association that provides various banking products and services in the Oconee County area of northwestern South Carolina and the northeast area of Georgia. The company's deposit products include demand, NOW, money market, savings, certificates of deposit, and individual retirement accounts.

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