OceanFirst Financial (NASDAQ:OCFC) Price Target Lowered to $20.00 at Keefe, Bruyette & Woods

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $21.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the savings and loans company's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 16.21% from the company's previous close.

A number of other analysts have also recently weighed in on the company. Hovde Group lowered their price objective on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Raymond James decreased their price objective on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Stephens reissued an "equal weight" rating and issued a $22.00 target price on shares of OceanFirst Financial in a research report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.67.

OceanFirst Financial Stock Up 3.2 %

Shares of NASDAQ:OCFC traded up $0.54 during trading hours on Monday, hitting $17.21. The company's stock had a trading volume of 191,977 shares, compared to its average volume of 295,711. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.43 and a beta of 0.94. OceanFirst Financial has a 52 week low of $14.03 and a 52 week high of $21.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The firm's fifty day moving average price is $16.52 and its 200 day moving average price is $18.06.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. The business had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. As a group, research analysts expect that OceanFirst Financial will post 1.6 EPS for the current year.

Hedge Funds Weigh In On OceanFirst Financial

Large investors have recently made changes to their positions in the company. Barclays PLC boosted its position in OceanFirst Financial by 13.0% during the third quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock worth $5,566,000 after purchasing an additional 34,458 shares in the last quarter. Franklin Resources Inc. grew its stake in OceanFirst Financial by 11.6% in the 3rd quarter. Franklin Resources Inc. now owns 79,571 shares of the savings and loans company's stock valued at $1,466,000 after acquiring an additional 8,253 shares during the period. JPMorgan Chase & Co. increased its holdings in OceanFirst Financial by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company's stock worth $23,074,000 after acquiring an additional 157,711 shares in the last quarter. Versant Capital Management Inc raised its position in OceanFirst Financial by 1,036.4% during the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock worth $27,000 after acquiring an additional 1,337 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in OceanFirst Financial during the fourth quarter valued at $226,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

About OceanFirst Financial

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.