OceanFirst Financial (OCFC) Stock Rating Upgraded by BidaskClub
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.
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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