Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have received an average rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.33.

A number of analysts recently weighed in on OCFC shares. ValuEngine upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Zacks Investment Research downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. DA Davidson downgraded OceanFirst Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $21.50 in a research note on Monday, August 12th. BidaskClub upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Sandler O’Neill downgraded OceanFirst Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 29th.

OceanFirst Financial stock opened at $23.15 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.98 and a quick ratio of 0.98. OceanFirst Financial has a 1-year low of $20.46 and a 1-year high of $26.81. The company has a market cap of $1.19 billion, a PE ratio of 11.69 and a beta of 0.78. The stock’s 50 day moving average price is $22.59 and its 200 day moving average price is $23.87.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, July 25th. The savings and loans company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.04). OceanFirst Financial had a net margin of 27.15% and a return on equity of 9.53%. The business had revenue of $74.72 million during the quarter, compared to analysts’ expectations of $77.38 million. On average, equities research analysts anticipate that OceanFirst Financial will post 2.06 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in OceanFirst Financial during the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in OceanFirst Financial by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the savings and loans company’s stock worth $93,000 after purchasing an additional 1,585 shares in the last quarter. Bessemer Group Inc. boosted its position in OceanFirst Financial by 1.4% during the second quarter. Bessemer Group Inc. now owns 119,400 shares of the savings and loans company’s stock worth $2,967,000 after purchasing an additional 1,700 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in OceanFirst Financial by 5.8% during the second quarter. UBS Asset Management Americas Inc. now owns 34,018 shares of the savings and loans company’s stock worth $845,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in OceanFirst Financial by 423,900.0% during the second quarter. Bank of Montreal Can now owns 4,240 shares of the savings and loans company’s stock worth $105,000 after purchasing an additional 4,239 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.

About OceanFirst Financial

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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