OceanFirst Financial Corp. (OCFC) Director Sells $520,400.00 in Stock
OceanFirst Financial Corp. (NASDAQ:OCFC) Director Steven E. Brady sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $26.02, for a total value of $520,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
OceanFirst Financial Corp. (NASDAQ:OCFC) opened at $26.13 on Wednesday. OceanFirst Financial Corp. has a 12 month low of $24.02 and a 12 month high of $30.65. The firm has a market capitalization of $861.16, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.39 and a beta of 0.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.55.
OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, January 25th. The savings and loans company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. OceanFirst Financial had a return on equity of 9.54% and a net margin of 19.67%. The company had revenue of $49.25 million for the quarter, compared to the consensus estimate of $50.52 million. equities research analysts predict that OceanFirst Financial Corp. will post 1.9 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the company. BidaskClub upgraded OceanFirst Financial from a “strong sell” rating to a “sell” rating in a research note on Monday. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, February 1st. Keefe, Bruyette & Woods restated a “buy” rating and set a $37.00 price target on shares of OceanFirst Financial in a research note on Friday, December 22nd. Finally, ValuEngine upgraded OceanFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. OceanFirst Financial has a consensus rating of “Buy” and a consensus price target of $31.67.
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of OceanFirst Financial in the 3rd quarter valued at approximately $165,000. Trexquant Investment LP acquired a new stake in shares of OceanFirst Financial in the 3rd quarter valued at approximately $201,000. Legal & General Group Plc lifted its holdings in shares of OceanFirst Financial by 16.2% in the 2nd quarter. Legal & General Group Plc now owns 7,589 shares of the savings and loans company’s stock valued at $206,000 after buying an additional 1,058 shares during the period. First Republic Investment Management Inc. acquired a new stake in shares of OceanFirst Financial in the 3rd quarter valued at approximately $224,000. Finally, Teacher Retirement System of Texas acquired a new position in OceanFirst Financial during the fourth quarter worth $249,000. 71.05% of the stock is owned by institutional investors and hedge funds.
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About OceanFirst Financial
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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