Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.67.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Piper Jaffray Companies reissued a “buy” rating and set a $31.00 target price on shares of OceanFirst Financial in a report on Friday, October 27th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $37.00 target price on shares of OceanFirst Financial in a report on Friday, December 22nd. Finally, ValuEngine downgraded OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th.
Shares of OceanFirst Financial (NASDAQ OCFC) opened at $25.88 on Friday. OceanFirst Financial has a twelve month low of $24.02 and a twelve month high of $30.65. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $827.27, a price-to-earnings ratio of 20.22, a PEG ratio of 1.34 and a beta of 0.56.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, February 2nd. OceanFirst Financial’s dividend payout ratio (DPR) is presently 46.88%.
In related news, Director Steven E. Brady sold 20,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $26.02, for a total value of $520,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joseph R. Iantosca sold 5,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $26.40, for a total value of $132,000.00. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of OCFC. SG Americas Securities LLC acquired a new position in OceanFirst Financial in the third quarter valued at about $165,000. Trexquant Investment LP acquired a new position in OceanFirst Financial in the third quarter valued at about $201,000. First Republic Investment Management Inc. acquired a new position in OceanFirst Financial in the third quarter valued at about $224,000. Teacher Retirement System of Texas acquired a new position in OceanFirst Financial in the fourth quarter valued at about $249,000. Finally, Jennison Associates LLC acquired a new position in OceanFirst Financial in the third quarter valued at about $303,000. 71.05% of the stock is owned by institutional investors and hedge funds.
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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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