Analysts Set OceanFirst Financial Corp. (NASDAQ:OCFC) Target Price at $20.42

Shares of OceanFirst Financial Corp. (NASDAQ:OCFCGet Free Report) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.83.

Several research analysts have recently commented on OCFC shares. Piper Sandler set a $17.00 price objective on OceanFirst Financial and gave the stock a “neutral” rating in a research note on Friday, October 18th. Raymond James raised OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Stephens restated an “equal weight” rating and set a $22.00 price target on shares of OceanFirst Financial in a report on Friday. Hovde Group dropped their target price on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods lifted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

View Our Latest Report on OceanFirst Financial

OceanFirst Financial Trading Down 0.4 %

OceanFirst Financial stock opened at $18.73 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. OceanFirst Financial has a one year low of $14.03 and a one year high of $21.87. The stock has a market capitalization of $1.10 billion, a PE ratio of 10.70 and a beta of 1.06. The business’s fifty day moving average is $19.12 and its 200 day moving average is $18.31.

OceanFirst Financial (NASDAQ:OCFCGet Free Report) last announced its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. On average, sell-side analysts predict that OceanFirst Financial will post 1.59 EPS for the current year.

OceanFirst Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Monday, February 3rd. OceanFirst Financial’s dividend payout ratio (DPR) is presently 48.48%.

Insider Buying and Selling at OceanFirst Financial

In other news, Director Joseph M. Jr. Murphy sold 1,500 shares of the business’s stock in a transaction 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 directly owns 177,417 shares of the company’s stock, valued at approximately $3,553,662.51. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in OceanFirst Financial by 0.7% during the 3rd quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company’s stock valued at $1,329,000 after buying an additional 494 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in OceanFirst Financial by 3.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 23,023 shares of the savings and loans company’s stock valued at $428,000 after buying an additional 724 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in OceanFirst Financial by 5.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,815 shares of the savings and loans company’s stock valued at $331,000 after buying an additional 995 shares in the last quarter. Foundry Partners LLC increased its position in OceanFirst Financial by 8.5% during the 3rd quarter. Foundry Partners LLC now owns 14,564 shares of the savings and loans company’s stock valued at $271,000 after buying an additional 1,145 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 1,337 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

OceanFirst Financial Company Profile

(Get Free Report

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.

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Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

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