Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have received an average rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $24.33.

Several brokerages have recently issued reports on OCFC. BidaskClub raised shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods downgraded shares of OceanFirst Financial from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $26.50 in a research report on Monday, July 29th. Zacks Investment Research downgraded shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. DA Davidson downgraded shares of OceanFirst Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $21.50 in a research report on Monday, August 12th. Finally, Raymond James raised shares of OceanFirst Financial from an “outperform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Thursday, August 29th. They noted that the move was a valuation call.

Shares of OCFC traded down $0.36 during mid-day trading on Tuesday, hitting $23.04. The company’s stock had a trading volume of 549,522 shares, compared to its average volume of 227,703. The firm has a 50-day moving average price of $22.01 and a 200 day moving average price of $24.03. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.14 and a beta of 0.78. 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 fifty-two week low of $20.46 and a fifty-two week high of $28.86.

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

Institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of OceanFirst Financial in the second quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of OceanFirst Financial by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the savings and loans company’s stock worth $93,000 after acquiring an additional 1,585 shares in the last quarter. Bank of Montreal Can increased its position in shares of OceanFirst Financial by 423,900.0% in the second quarter. Bank of Montreal Can now owns 4,240 shares of the savings and loans company’s stock worth $105,000 after acquiring an additional 4,239 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of OceanFirst Financial in the first quarter worth approximately $191,000. Finally, Aperio Group LLC purchased a new position in shares of OceanFirst Financial in the second quarter worth approximately $225,000. 69.23% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Company Profile

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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