OceanFirst Financial (NASDAQ:OCFC) Given Equal Weight Rating at Stephens

Stephens reissued their equal weight rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a report released on Friday, Benzinga reports. Stephens currently has a $20.00 price target on the savings and loans company’s stock.

OCFC has been the subject of several other research reports. TheStreet upgraded shares of OceanFirst Financial from a c+ rating to a b- rating in a report on Monday, January 8th. Raymond James boosted their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company an outperform rating in a report on Monday, January 22nd. Finally, StockNews.com lowered shares of OceanFirst Financial from a hold rating to a sell rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, OceanFirst Financial has an average rating of Hold and an average target price of $18.50.

OceanFirst Financial Trading Up 4.0 %

NASDAQ:OCFC opened at $15.18 on Friday. OceanFirst Financial has a one year low of $12.01 and a one year high of $19.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $903.67 million, a P/E ratio of 8.88 and a beta of 1.00. The firm has a 50-day simple moving average of $15.34 and a 200-day simple moving average of $15.37.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, January 18th. The savings and loans company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. OceanFirst Financial had a net margin of 15.54% and a return on equity of 6.19%. The business had revenue of $99.69 million during the quarter, compared to analyst estimates of $97.26 million. Equities analysts anticipate that OceanFirst Financial will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Boston Partners grew its position in OceanFirst Financial by 11.1% during the 3rd quarter. Boston Partners now owns 1,394,141 shares of the savings and loans company’s stock worth $19,660,000 after purchasing an additional 139,646 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in OceanFirst Financial during the 3rd quarter worth approximately $1,015,000. Charles Schwab Investment Management Inc. grew its position in OceanFirst Financial by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,344 shares of the savings and loans company’s stock worth $10,062,000 after purchasing an additional 43,649 shares during the last quarter. AQR Capital Management LLC grew its position in OceanFirst Financial by 143.3% during the 3rd quarter. AQR Capital Management LLC now owns 380,529 shares of the savings and loans company’s stock worth $5,506,000 after purchasing an additional 224,146 shares during the last quarter. Finally, American Century Companies Inc. grew its position in OceanFirst Financial by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 517,771 shares of the savings and loans company’s stock worth $7,492,000 after purchasing an additional 76,317 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.