OceanFirst Financial Corp. (NASDAQ:OCFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. “

OCFC has been the topic of several other reports. BidaskClub downgraded shares of OceanFirst Financial Corp. from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Sandler O’Neill upgraded shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, September 20th. Finally, DA Davidson began coverage on shares of OceanFirst Financial Corp. in a report on Thursday, September 21st. They issued a “buy” rating and a $31.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. OceanFirst Financial Corp. has an average rating of “Hold” and an average target price of $30.50.

Shares of OceanFirst Financial Corp. (OCFC) opened at 27.43 on Tuesday. The company’s 50 day moving average price is $25.42 and its 200 day moving average price is $26.80. OceanFirst Financial Corp. has a one year low of $19.02 and a one year high of $30.70. The stock has a market capitalization of $881.11 million, a price-to-earnings ratio of 23.71 and a beta of 0.64.

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In other news, Director Steven E. Brady sold 3,825 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $24.89, for a total transaction of $95,204.25. Following the completion of the transaction, the director now directly owns 67,177 shares of the company’s stock, valued at $1,672,035.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Yorkville Capital Management LLC lifted its position in shares of OceanFirst Financial Corp. by 35.0% in the second quarter. Yorkville Capital Management LLC now owns 15,800 shares of the savings and loans company’s stock worth $428,000 after purchasing an additional 4,100 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in OceanFirst Financial Corp. by 303.8% during the second quarter. Lord Abbett & CO. LLC now owns 299,345 shares of the savings and loans company’s stock worth $8,118,000 after purchasing an additional 225,211 shares during the last quarter. California State Teachers Retirement System boosted its holdings in OceanFirst Financial Corp. by 10.2% during the second quarter. California State Teachers Retirement System now owns 55,892 shares of the savings and loans company’s stock worth $1,516,000 after purchasing an additional 5,188 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in OceanFirst Financial Corp. by 22.2% in the second quarter. The Manufacturers Life Insurance Company now owns 24,386 shares of the savings and loans company’s stock valued at $661,000 after purchasing an additional 4,433 shares in the last quarter. Finally, State Street Corp grew its position in OceanFirst Financial Corp. by 23.8% in the second quarter. State Street Corp now owns 581,074 shares of the savings and loans company’s stock valued at $15,758,000 after purchasing an additional 111,891 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors and hedge funds.

About OceanFirst Financial Corp.

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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