Analysts Set OceanFirst Financial Corp. (NASDAQ:OCFC) PT at $19.30

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have earned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.30.

OCFC has been the subject of several analyst reports. Hovde Group upped their price target on OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Piper Sandler set a $17.00 target price on OceanFirst Financial and gave the company a “neutral” rating in a report on Friday, October 18th.

Insider Buying and Selling

In other news, Director Joseph M. Jr. Murphy sold 1,500 shares of OceanFirst Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.03, for a total value of $30,045.00. Following the completion of the transaction, the director now owns 177,417 shares in the company, valued at approximately $3,553,662.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On OceanFirst Financial

Several institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new position in OceanFirst Financial in the second quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of OceanFirst Financial in the 3rd quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in shares of OceanFirst Financial during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. bought a new position in shares of OceanFirst Financial in the 2nd quarter valued at approximately $62,000. Finally, EMC Capital Management bought a new position in shares of OceanFirst Financial in the first quarter valued at approximately $150,000. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Trading Down 0.3 %

Shares of NASDAQ:OCFC opened at $20.72 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $18.33 and its two-hundred day moving average is $16.83. The company has a market cap of $1.21 billion, a PE ratio of 11.84 and a beta of 1.01. OceanFirst Financial has a 52 week low of $13.41 and a 52 week high of $21.34.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $96.90 million during the quarter, compared to analysts’ expectations of $92.79 million. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. Equities analysts predict that OceanFirst Financial will post 1.59 earnings per share for the current fiscal year.

OceanFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, November 4th. OceanFirst Financial’s dividend payout ratio is currently 45.71%.

About OceanFirst Financial

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.