OceanFirst Financial Corp. (OCFC) Sees Strong Trading Volume
Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) saw unusually-strong trading volume on Wednesday . Approximately 492,244 shares were traded during trading, an increase of 207% from the previous session’s volume of 160,313 shares.The stock last traded at $18.30 and had previously closed at $18.74.
A number of equities analysts have commented on OCFC shares. Zacks Investment Research raised shares of OceanFirst Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research report on Thursday, April 28th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $22.00 price objective on shares of OceanFirst Financial Corp. in a research report on Monday, April 25th.
The firm has a 50 day moving average price of $18.42 and a 200-day moving average price of $17.99. The stock has a market capitalization of $309.89 million and a P/E ratio of 16.08.
OceanFirst Financial Corp. (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, April 21st. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.08. On average, analysts forecast that OceanFirst Financial Corp. will post $0.96 EPS for the current fiscal year.
A number of hedge funds and institutional investors have made changes to their positions in OCFC. Foresters Investment Management Company Inc. increased its position in shares of OceanFirst Financial Corp. by 1.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 234,500 shares of the company’s stock worth $4,697,000 after buying an additional 3,000 shares during the period. Dimensional Fund Advisors LP increased its position in shares of OceanFirst Financial Corp. by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,749 shares of the company’s stock worth $12,374,000 after buying an additional 16,692 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of OceanFirst Financial Corp. by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 53,225 shares of the company’s stock worth $1,066,000 after buying an additional 7,290 shares during the period.
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.
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