OceanFirst Financial (NASDAQ:OCFC - Free Report) had its price objective boosted by DA Davidson from $20.00 to $22.00 in a report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the savings and loans company's stock.
OCFC has been the topic of several other reports. Piper Sandler set a $17.00 price target on OceanFirst Financial and gave the company a "neutral" rating in a research report on Friday, October 18th. Hovde Group lifted their price target on OceanFirst Financial from $19.50 to $21.50 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, OceanFirst Financial has an average rating of "Hold" and an average target price of $19.75.
Check Out Our Latest Report on OceanFirst Financial
OceanFirst Financial Stock Down 0.8 %
OceanFirst Financial stock traded down $0.17 during trading hours on Monday, hitting $20.32. The company had a trading volume of 161,358 shares, compared to its average volume of 302,952. The firm has a market capitalization of $1.19 billion, a P/E ratio of 11.71 and a beta of 1.01. OceanFirst Financial has a fifty-two week low of $13.41 and a fifty-two week high of $21.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The firm's fifty day moving average is $18.46 and its 200-day moving average is $16.92.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $96.90 million for the quarter, compared to analyst estimates of $92.79 million. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. On average, research analysts forecast that OceanFirst Financial will post 1.59 earnings per share for the current year.
OceanFirst Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.20 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.80 annualized dividend and a yield of 3.94%. OceanFirst Financial's dividend payout ratio (DPR) is 45.71%.
Insiders Place Their Bets
In other news, Director Joseph M. Jr. Murphy sold 1,500 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.03, for a total transaction of $30,045.00. Following the completion of the transaction, the director now directly owns 177,417 shares of the company's stock, valued at approximately $3,553,662.51. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.00% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its holdings in shares of OceanFirst Financial by 0.7% in the 3rd quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company's stock worth $1,329,000 after buying an additional 494 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of OceanFirst Financial by 0.5% in the 2nd quarter. Federated Hermes Inc. now owns 137,196 shares of the savings and loans company's stock valued at $2,180,000 after purchasing an additional 658 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of OceanFirst Financial by 3.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 23,023 shares of the savings and loans company's stock worth $428,000 after purchasing an additional 724 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of OceanFirst Financial by 5.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,815 shares of the savings and loans company's stock worth $331,000 after purchasing an additional 995 shares in the last quarter. Finally, Quest Partners LLC raised its stake in shares of OceanFirst Financial by 2.2% in the second quarter. Quest Partners LLC now owns 52,372 shares of the savings and loans company's stock valued at $832,000 after acquiring an additional 1,112 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
OceanFirst Financial Company Profile
(
Get Free Report)
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.
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