OceanFirst Financial’s (OCFC) Neutral Rating Reaffirmed at Boenning Scattergood


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Boenning Scattergood reiterated their neutral rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a report released on Wednesday, Zacks.com reports.

Several other research analysts have also commented on OCFC. Piper Sandler reduced their price objective on shares of OceanFirst Financial from $18.00 to $17.00 and set a neutral rating for the company in a research note on Monday, September 28th. BidaskClub raised OceanFirst Financial from a sell rating to a hold rating in a research report on Thursday, December 10th. Raymond James raised their price objective on OceanFirst Financial from $19.00 to $23.00 and gave the stock a strong-buy rating in a research report on Thursday, January 7th. DA Davidson raised OceanFirst Financial from a neutral rating to a buy rating and upped their target price for the company from $17.00 to $24.00 in a research report on Thursday, December 17th. Finally, ValuEngine raised OceanFirst Financial from a sell rating to a hold rating in a report on Tuesday, December 1st. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $21.00.

OCFC stock opened at $20.26 on Wednesday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 21.33 and a beta of 0.94. The firm has a 50-day simple moving average of $18.15 and a two-hundred day simple moving average of $16.29. OceanFirst Financial has a one year low of $11.60 and a one year high of $25.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.99.

In other news, Director Nicos Katsoulis acquired 1,900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average cost of $14.76 per share, for a total transaction of $28,044.00. Company insiders own 3.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in OceanFirst Financial by 3.6% in the 3rd quarter. BlackRock Inc. now owns 4,531,457 shares of the savings and loans company’s stock worth $62,035,000 after buying an additional 155,623 shares during the period. Vanguard Group Inc. boosted its stake in OceanFirst Financial by 5.2% during the second quarter. Vanguard Group Inc. now owns 2,986,161 shares of the savings and loans company’s stock valued at $52,645,000 after buying an additional 147,515 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in OceanFirst Financial by 26.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 532,132 shares of the savings and loans company’s stock valued at $9,914,000 after buying an additional 112,002 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of OceanFirst Financial during the 3rd quarter worth approximately $1,346,000. Finally, Nuveen Asset Management LLC boosted its position in shares of OceanFirst Financial by 20.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 569,980 shares of the savings and loans company’s stock valued at $10,048,000 after acquiring an additional 95,684 shares during the last quarter. 55.65% 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 community banking services. The company accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers.

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Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

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