OceanFirst Financial Corp. (NASDAQ:OCFC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.42.

OCFC has been the topic of a number of research analyst reports. Piper Sandler set a $17.00 price target on OceanFirst Financial and gave the stock a "neutral" rating in a research report on Friday, October 18th. DA Davidson reaffirmed a "neutral" rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods raised their price target on OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Raymond James raised OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, December 19th.

Insider Activity at OceanFirst Financial

In other OceanFirst Financial news, Director Joseph M. Jr. Murphy sold 1,500 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.03, for a total transaction of $30,045.00. Following the transaction, the director now owns 177,417 shares of the company's stock, valued at $3,553,662.51. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of OceanFirst Financial by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company's stock worth $23,074,000 after purchasing an additional 157,711 shares during the last quarter. Barclays PLC boosted its stake in shares of OceanFirst Financial by 13.0% during the 3rd quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock worth $5,566,000 after acquiring an additional 34,458 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of OceanFirst Financial by 32.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 272,243 shares of the savings and loans company's stock worth $4,326,000 after acquiring an additional 66,918 shares during the period. Royce & Associates LP boosted its stake in shares of OceanFirst Financial by 43.7% during the 3rd quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company's stock worth $13,635,000 after acquiring an additional 223,203 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of OceanFirst Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,421,373 shares of the savings and loans company's stock worth $26,428,000 after acquiring an additional 27,579 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

OceanFirst Financial Stock Up 0.6 %

Shares of NASDAQ OCFC traded up $0.11 during mid-day trading on Thursday, reaching $19.11. 105,303 shares of the company's stock were exchanged, compared to its average volume of 288,574. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.91 and a beta of 1.06. 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 business has a fifty day simple moving average of $19.18 and a 200 day simple moving average of $18.24. OceanFirst Financial has a twelve month low of $14.03 and a twelve month high of $21.87.

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.