OceanFirst Financial Corp. (OCFC) Given Consensus Recommendation of “Buy” by Brokerages
Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $32.00.
A number of analysts recently commented on OCFC shares. Sandler O’Neill raised OceanFirst Financial from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, September 20th. DA Davidson started coverage on OceanFirst Financial in a research note on Thursday, September 21st. They set a “buy” rating and a $31.00 price objective on the stock. Zacks Investment Research lowered OceanFirst Financial from a “buy” rating to a “hold” rating in a research note on Saturday, September 23rd. Hovde Group started coverage on OceanFirst Financial in a research note on Monday, October 9th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $31.00 price objective on shares of OceanFirst Financial in a research note on Friday, October 27th.
In related news, Director Steven E. Brady sold 2,800 shares of the stock in a transaction dated Tuesday, October 31st. The stock was 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 in the company, valued at $2,006,339.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.00% of the company’s stock.
Shares of OceanFirst Financial (NASDAQ OCFC) opened at $27.93 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $910.03, a price-to-earnings ratio of 23.28, a P/E/G ratio of 1.56 and a beta of 0.60. OceanFirst Financial has a 52 week low of $24.02 and a 52 week high of $30.65.
OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $50.42 million for the quarter, compared to analyst estimates of $50.41 million. OceanFirst Financial had a return on equity of 8.87% and a net margin of 18.59%. research analysts expect that OceanFirst Financial will post 1.7 EPS for the current year.
About OceanFirst Financial
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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