OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $18.00 and traded as high as $18.35. OceanFirst Financial shares last traded at $18.12, with a volume of 364,788 shares traded.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on OCFC shares. Keefe, Bruyette & Woods lifted their price target on OceanFirst Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Hovde Group increased their price target on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an "outperform" rating in a report on Friday, September 20th. Raymond James raised shares of OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Piper Sandler set a $17.00 price target on shares of OceanFirst Financial and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, DA Davidson reiterated a "neutral" rating and issued a $22.00 price objective on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, OceanFirst Financial presently has a consensus rating of "Hold" and an average target price of $20.42.
Read Our Latest Report on OCFC
OceanFirst Financial Stock Performance
The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a market cap of $1.05 billion, a PE ratio of 10.23 and a beta of 1.06. The company's 50-day moving average price is $19.41 and its two-hundred day moving average price is $18.00.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. The business had revenue of $96.90 million for the quarter, compared to the consensus estimate of $92.79 million. On average, equities research analysts forecast that OceanFirst Financial Corp. will post 1.59 EPS for the current year.
OceanFirst Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a yield of 4.47%. OceanFirst Financial's payout ratio is 45.71%.
Insiders Place Their Bets
In related news, Director Joseph M. Jr. Murphy sold 1,500 shares of OceanFirst Financial stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.03, for a total value of $30,045.00. Following the transaction, the director now owns 177,417 shares in the company, valued at $3,553,662.51. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in shares of OceanFirst Financial in the 3rd quarter valued at about $25,000. Versant Capital Management Inc increased its stake in 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 worth $27,000 after purchasing an additional 1,337 shares during the period. Point72 DIFC Ltd bought a new stake in OceanFirst Financial in the third quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of OceanFirst Financial by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company's stock valued at $57,000 after purchasing an additional 1,379 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of OceanFirst Financial in the second quarter worth approximately $62,000. 70.98% of the stock is owned by institutional investors.
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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