Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have earned an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.00.

Several research analysts have recently issued reports on OCFC shares. BidaskClub downgraded shares of OceanFirst Financial Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of OceanFirst Financial Corp. from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Sandler O’Neill upgraded shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, September 20th. DA Davidson started coverage on shares of OceanFirst Financial Corp. in a research note on Thursday, September 21st. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Hovde Group started coverage on shares of OceanFirst Financial Corp. in a research note on Monday, October 9th. They issued an “outperform” rating and a $32.00 target price on the stock.

In other news, Director Steven E. Brady sold 3,825 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $24.89, for a total transaction of $95,204.25. Following the completion of the transaction, the director now directly owns 67,177 shares of the company’s stock, valued at $1,672,035.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the transaction, the director now directly owns 72,562 shares of the company’s stock, valued at $2,006,339.30. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of OceanFirst Financial Corp. by 80.5% during the second quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock valued at $102,000 after purchasing an additional 1,684 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of OceanFirst Financial Corp. by 2,366.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after purchasing an additional 3,786 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of OceanFirst Financial Corp. by 6.8% during the first quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 418 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of OceanFirst Financial Corp. during the first quarter valued at approximately $228,000. Finally, Bank of America Corp DE raised its holdings in shares of OceanFirst Financial Corp. by 55.0% during the first quarter. Bank of America Corp DE now owns 14,241 shares of the savings and loans company’s stock valued at $402,000 after purchasing an additional 5,054 shares during the last quarter. 67.45% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Corp. (NASDAQ:OCFC) last issued its earnings results on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $50.42 million for the quarter, compared to the consensus estimate of $50.41 million. OceanFirst Financial Corp. had a net margin of 18.59% and a return on equity of 8.93%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.20%. OceanFirst Financial Corp.’s payout ratio is 50.00%.

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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.

Analyst Recommendations for OceanFirst Financial Corp. (NASDAQ:OCFC)

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