OceanFirst Financial (NASDAQ:OCFC) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

Several other analysts also recently weighed in on OCFC. Hovde Group restated a “buy” rating and set a $34.00 target price on shares of OceanFirst Financial in a research note on Monday, June 25th. ValuEngine downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Zacks Investment Research downgraded OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Raymond James initiated coverage on OceanFirst Financial in a research report on Thursday, June 28th. They issued an “outperform” rating and a $33.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. OceanFirst Financial has a consensus rating of “Hold” and an average target price of $34.00.

Shares of NASDAQ:OCFC opened at $26.00 on Thursday. OceanFirst Financial has a twelve month low of $25.00 and a twelve month high of $30.90. The company has a market cap of $1.32 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.33 and a beta of 0.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.78.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, July 26th. The savings and loans company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. OceanFirst Financial had a return on equity of 8.97% and a net margin of 16.84%. The firm had revenue of $70.33 million during the quarter, compared to the consensus estimate of $72.43 million. On average, equities research analysts forecast that OceanFirst Financial will post 2.05 earnings per share for the current fiscal year.

In other news, Director Kimberly M. Guadagno acquired 1,725 shares of OceanFirst Financial stock in a transaction on Thursday, August 9th. The stock was bought at an average price of $28.93 per share, for a total transaction of $49,904.25. Following the transaction, the director now owns 1,725 shares of the company’s stock, valued at $49,904.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of OceanFirst Financial in the 1st quarter worth approximately $109,000. Sei Investments Co. raised its holdings in shares of OceanFirst Financial by 145.7% in the 2nd quarter. Sei Investments Co. now owns 9,326 shares of the savings and loans company’s stock worth $280,000 after buying an additional 5,530 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of OceanFirst Financial in the 2nd quarter worth approximately $304,000. WINTON GROUP Ltd acquired a new position in shares of OceanFirst Financial in the 1st quarter worth approximately $374,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of OceanFirst Financial by 28.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,570 shares of the savings and loans company’s stock worth $466,000 after buying an additional 3,488 shares in the last quarter. Institutional investors own 73.87% of the company’s stock.

About OceanFirst Financial

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

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Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

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