OceanFirst Financial Corp. (NASDAQ:OCFC) Receives $20.83 Average PT from Analysts

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.83.

OCFC has been the subject of several analyst reports. Raymond James upgraded OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, December 19th. DA Davidson reaffirmed a "neutral" rating and issued a $22.00 price target on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Hovde Group cut their price target on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price objective on OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

OceanFirst Financial Stock Down 0.7 %

NASDAQ OCFC traded down $0.12 during trading on Monday, reaching $18.02. The company's stock had a trading volume of 182,322 shares, compared to its average volume of 329,414. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.05 billion, a PE ratio of 10.92 and a beta of 1.05. OceanFirst Financial has a 1-year low of $14.03 and a 1-year high of $21.87. The business has a 50-day moving average price of $18.28 and a 200-day moving average price of $18.35.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. On average, research analysts forecast that OceanFirst Financial will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.44%. The ex-dividend date was Monday, February 3rd. OceanFirst Financial's dividend payout ratio is 48.49%.

Institutional Trading of OceanFirst Financial

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of OceanFirst Financial during the third quarter worth $25,000. Versant Capital Management Inc raised its stake in shares of OceanFirst Financial by 1,036.4% in the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock valued at $27,000 after purchasing an additional 1,337 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of OceanFirst Financial by 807.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock valued at $33,000 after purchasing an additional 1,640 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of OceanFirst Financial during the third quarter worth about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in OceanFirst Financial by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company's stock valued at $57,000 after buying an additional 1,379 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

About OceanFirst Financial

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.