OceanFirst Financial Corp. (NASDAQ:OCFC) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price target of $32.50 for the company and are expecting that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also given OceanFirst Financial Corp. an industry rank of 71 out of 265 based on the ratings given to its competitors.

A number of research firms recently commented on OCFC. Sandler O’Neill lowered shares of OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, January 30th. Zacks Investment Research lowered shares of OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st.

In other OceanFirst Financial Corp. news, Director John R. Garbarino sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $30.22, for a total value of $604,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven E. Brady sold 15,850 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $28.63, for a total transaction of $453,785.50. Following the completion of the transaction, the director now directly owns 70,317 shares in the company, valued at $2,013,175.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,642 shares of company stock worth $3,996,784. 11.10% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in OceanFirst Financial Corp. by 286.9% in the fourth quarter. Comerica Bank now owns 55,217 shares of the savings and loans company’s stock valued at $1,662,000 after buying an additional 40,945 shares in the last quarter. Bessemer Group Inc. raised its position in OceanFirst Financial Corp. by 31.9% in the fourth quarter. Bessemer Group Inc. now owns 42,600 shares of the savings and loans company’s stock valued at $1,279,000 after buying an additional 10,300 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in OceanFirst Financial Corp. during the fourth quarter valued at approximately $622,000. Quantum Capital Management LLC NJ purchased a new position in OceanFirst Financial Corp. during the third quarter valued at approximately $201,000. Finally, Private Capital Management LLC raised its position in OceanFirst Financial Corp. by 0.6% in the third quarter. Private Capital Management LLC now owns 348,327 shares of the savings and loans company’s stock valued at $6,709,000 after buying an additional 1,961 shares in the last quarter. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) traded up 2.75% during trading on Tuesday, hitting $27.27. 139,374 shares of the stock were exchanged. The firm has a market capitalization of $867.43 million, a P/E ratio of 27.83 and a beta of 0.59. The firm has a 50 day moving average price of $28.12 and a 200 day moving average price of $26.24. OceanFirst Financial Corp. has a 52 week low of $16.77 and a 52 week high of $30.70.

OceanFirst Financial Corp. (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, January 26th. The savings and loans company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. OceanFirst Financial Corp. had a net margin of 14.98% and a return on equity of 9.82%. The business had revenue of $42.01 million for the quarter, compared to analyst estimates of $44 million. Analysts forecast that OceanFirst Financial Corp. will post $1.58 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was posted by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at http://www.dailypolitical.com/2017/04/18/brokerages-set-32-50-price-target-for-oceanfirst-financial-corp-ocfc.html.

OceanFirst Financial Corp. Company Profile

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.

5 Day Chart for NASDAQ:OCFC

Get a free copy of the Zacks research report on OceanFirst Financial Corp. (OCFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for OceanFirst Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.