OceanFirst Financial Corp. (OCFC) Trading Down 1.4%
OceanFirst Financial Corp. (NASDAQ:OCFC)’s share price fell 1.4% during trading on Wednesday . The company traded as low as $18.38 and last traded at $18.47, with a volume of 65,476 shares. The stock had previously closed at $18.74.
A number of brokerages recently commented on OCFC. Zacks Investment Research raised OceanFirst Financial Corp. from a “hold” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a report on Thursday, April 28th. Piper Jaffray Cos. reissued a “buy” rating and set a $22.00 price target on shares of OceanFirst Financial Corp. in a report on Monday, April 25th.
The firm has a market cap of $314.96 million and a price-to-earnings ratio of 16.34. The company’s 50 day moving average price is $18.47 and its 200-day moving average price is $17.94.
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 the consensus estimate of $0.33 by $0.08. Equities analysts predict that OceanFirst Financial Corp. will post $0.94 EPS for the current year.
A number of hedge funds have made changes to their positions in OCFC. Victory Capital Management Inc. boosted its stake 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 valued at $1,066,000 after buying an additional 7,290 shares in the last quarter. Foresters Investment Management Company Inc. boosted its stake 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 valued at $4,697,000 after buying an additional 3,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $12,374,000 after buying an additional 16,692 shares in the last quarter.
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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