BidaskClub upgraded shares of OceanFirst Financial (NASDAQ:OCFC) from a strong sell rating to a sell rating in a research note published on Friday, BidAskClub reports.

OCFC has been the topic of several other reports. Boenning Scattergood restated a buy rating and set a $28.00 price objective on shares of OceanFirst Financial in a report on Friday, January 25th. Zacks Investment Research upgraded OceanFirst Financial from a sell rating to a hold rating in a report on Tuesday, December 25th. Finally, ValuEngine downgraded OceanFirst Financial from a hold rating to a sell rating in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. OceanFirst Financial currently has a consensus rating of Hold and an average target price of $32.60.

OCFC stock opened at $24.62 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54. OceanFirst Financial has a 52-week low of $21.30 and a 52-week high of $30.90. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.13 and a beta of 0.75.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, January 24th. The savings and loans company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). OceanFirst Financial had a return on equity of 9.21% and a net margin of 23.09%. The business had revenue of $70.59 million for the quarter, compared to analysts’ expectations of $72.11 million. On average, equities analysts forecast that OceanFirst Financial will post 2.18 EPS for the current fiscal year.

In other news, Director Michael D. Devlin sold 46,709 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $25.07, for a total value of $1,170,994.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Grace Vallacchi sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $24.75, for a total value of $42,075.00. The disclosure for this sale can be found here. Insiders sold a total of 53,884 shares of company stock valued at $1,350,695 over the last quarter. Company insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sciencast Management LP bought a new stake in shares of OceanFirst Financial in the 1st quarter valued at approximately $228,000. Geode Capital Management LLC increased its holdings in shares of OceanFirst Financial by 17.1% in the 4th quarter. Geode Capital Management LLC now owns 534,101 shares of the savings and loans company’s stock valued at $12,022,000 after acquiring an additional 78,093 shares during the last quarter. BW Gestao de Investimentos Ltda. grew its stake in OceanFirst Financial by 2.4% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 29,029 shares of the savings and loans company’s stock worth $653,000 after buying an additional 677 shares during the last quarter. Legal & General Group Plc grew its stake in OceanFirst Financial by 12.7% during the 4th quarter. Legal & General Group Plc now owns 8,286 shares of the savings and loans company’s stock worth $187,000 after buying an additional 934 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in OceanFirst Financial during the 4th quarter worth $108,000. Institutional investors and hedge funds own 70.04% 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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