OceanFirst Financial Corp. (NASDAQ:OCFC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $31.00 price objective on shares of OceanFirst Financial Corp. in a research report on Friday, October 27th. DA Davidson started coverage on shares of OceanFirst Financial Corp. in a research report on Thursday, September 21st. They issued a “buy” rating and a $31.00 price objective on the stock. Sandler O’Neill raised shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Wednesday, September 20th. Finally, Hovde Group started coverage on shares of OceanFirst Financial Corp. in a research report on Monday, October 9th. They issued an “outperform” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.00.

Shares of OceanFirst Financial Corp. (NASDAQ OCFC) traded up $0.14 during midday trading on Thursday, hitting $25.84. 181,000 shares of the stock were exchanged, compared to its average volume of 134,053. The company has a market capitalization of $841.92, a PE ratio of 15.85, a price-to-earnings-growth ratio of 1.52 and a beta of 0.61. OceanFirst Financial Corp. has a 52 week low of $21.65 and a 52 week high of $30.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.

OceanFirst Financial Corp. (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $50.42 million for the quarter, compared to analysts’ expectations of $50.41 million. OceanFirst Financial Corp. had a net margin of 18.59% and a return on equity of 8.87%. analysts forecast that OceanFirst Financial Corp. will post 1.7 EPS for the current fiscal year.

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In other news, Director Steven E. Brady sold 3,825 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.89, for a total transaction of $95,204.25. Following the transaction, the director now directly owns 67,177 shares in the company, valued at approximately $1,672,035.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total transaction of $77,420.00. Following the transaction, the director now owns 72,562 shares in the company, valued at $2,006,339.30. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of OceanFirst Financial Corp. by 80.5% during the 2nd quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock worth $102,000 after purchasing an additional 1,684 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of OceanFirst Financial Corp. by 2,366.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock worth $107,000 after purchasing an additional 3,786 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of OceanFirst Financial Corp. during the 3rd quarter worth about $165,000. Legal & General Group Plc increased its stake in shares of OceanFirst Financial Corp. by 6.8% during the 1st quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock worth $184,000 after purchasing an additional 418 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of OceanFirst Financial Corp. during the 3rd quarter worth about $201,000. Institutional investors own 67.28% of the company’s stock.

OceanFirst Financial Corp. Company Profile

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.

Analyst Recommendations for OceanFirst Financial Corp. (NASDAQ:OCFC)

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