Joseph J. Burke Sells 1,490 Shares of OceanFirst Financial Corp. (OCFC) Stock

OceanFirst Financial Corp. (NASDAQ:OCFC) Director Joseph J. Burke sold 1,490 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.73, for a total value of $39,827.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OceanFirst Financial Corp. (NASDAQ OCFC) traded up $0.29 during midday trading on Wednesday, hitting $26.41. The stock had a trading volume of 152,747 shares, compared to its average volume of 200,572. The stock has a market cap of $850.08, a PE ratio of 15.35, a PEG ratio of 1.37 and a beta of 0.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. OceanFirst Financial Corp. has a fifty-two week low of $24.02 and a fifty-two week high of $30.65.

OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $49.25 million during the quarter, compared to analysts’ expectations of $50.52 million. OceanFirst Financial had a return on equity of 9.54% and a net margin of 19.67%. analysts expect that OceanFirst Financial Corp. will post 1.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Monday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, February 2nd. OceanFirst Financial’s dividend payout ratio is presently 46.88%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its holdings in shares of OceanFirst Financial by 13.3% during the 2nd quarter. Voya Investment Management LLC now owns 14,308 shares of the savings and loans company’s stock worth $388,000 after purchasing an additional 1,683 shares during the period. Comerica Bank boosted its holdings in OceanFirst Financial by 3.7% during the 3rd quarter. Comerica Bank now owns 53,408 shares of the savings and loans company’s stock valued at $1,483,000 after acquiring an additional 1,900 shares during the period. Silver Capital Management LLC boosted its holdings in OceanFirst Financial by 10.2% during the 3rd quarter. Silver Capital Management LLC now owns 20,700 shares of the savings and loans company’s stock valued at $569,000 after acquiring an additional 1,910 shares during the period. California Public Employees Retirement System boosted its holdings in OceanFirst Financial by 4.7% during the 2nd quarter. California Public Employees Retirement System now owns 47,154 shares of the savings and loans company’s stock valued at $1,279,000 after acquiring an additional 2,100 shares during the period. Finally, Yorkville Capital Management LLC boosted its holdings in OceanFirst Financial by 35.0% during the 2nd quarter. Yorkville Capital Management LLC now owns 15,800 shares of the savings and loans company’s stock valued at $428,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds own 71.11% of the company’s stock.

A number of brokerages have issued reports on OCFC. Zacks Investment Research downgraded OceanFirst Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $32.00 target price on shares of OceanFirst Financial in a research note on Monday. BidaskClub cut OceanFirst Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, December 14th. ValuEngine cut OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $37.00 price target on shares of OceanFirst Financial in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $31.83.

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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.

Insider Buying and Selling by Quarter for OceanFirst Financial (NASDAQ:OCFC)

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