OceanFirst Financial (NASDAQ:OCFC) Earns “Hold” Rating from Stephens

Stephens reaffirmed their hold rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a research note published on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $25.50 target price on the savings and loans company’s stock.

A number of other brokerages have also commented on OCFC. Keefe, Bruyette & Woods lowered OceanFirst Financial from an outperform rating to a market perform rating and dropped their price target for the company from $29.00 to $26.50 in a research note on Monday, July 29th. Raymond James increased their price target on OceanFirst Financial from $25.00 to $28.00 and gave the company a strong-buy rating in a research note on Monday, October 28th. BidaskClub lowered OceanFirst Financial from a hold rating to a sell rating in a research note on Saturday, November 2nd. ValuEngine raised OceanFirst Financial from a sell rating to a hold rating in a research note on Friday, October 4th. Finally, DA Davidson lowered OceanFirst Financial from a buy rating to a neutral rating and dropped their price target for the company from $27.00 to $21.50 in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $26.08.

Shares of OceanFirst Financial stock opened at $23.98 on Wednesday. The stock has a 50 day moving average of $23.55 and a 200 day moving average of $23.79. OceanFirst Financial has a 12 month low of $20.46 and a 12 month high of $26.35. The firm has a market cap of $1.23 billion, a PE ratio of 12.11 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. OceanFirst Financial had a return on equity of 9.55% and a net margin of 26.72%. The company had revenue of $74.94 million during the quarter, compared to analyst estimates of $75.33 million. As a group, equities research analysts forecast that OceanFirst Financial will post 2.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.84%. This is a positive change from OceanFirst Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 1st. OceanFirst Financial’s dividend payout ratio (DPR) is presently 34.34%.

Several large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in shares of OceanFirst Financial by 0.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 72,589 shares of the savings and loans company’s stock valued at $1,713,000 after purchasing an additional 547 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of OceanFirst Financial in the 2nd quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of OceanFirst Financial by 73.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the savings and loans company’s stock valued at $93,000 after purchasing an additional 1,585 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of OceanFirst Financial by 1.4% in the 2nd quarter. Bessemer Group Inc. now owns 119,400 shares of the savings and loans company’s stock valued at $2,967,000 after purchasing an additional 1,700 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of OceanFirst Financial by 5.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 34,018 shares of the savings and loans company’s stock valued at $845,000 after purchasing an additional 1,880 shares during the last quarter. 68.75% of the stock is owned by institutional investors and hedge funds.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

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Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

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