Free Trial

OceanFirst Financial (NASDAQ:OCFC) Receives "Hold (C)" Rating from Weiss Ratings

OceanFirst Financial logo with Finance background

Key Points

  • OceanFirst Financial has received a "hold (c)" rating reaffirmed by Weiss Ratings, with a current average rating of "Hold" from various analysts.
  • The stock price recently opened at $18.69 and has experienced a 2.7% increase.
  • Institutional investors hold 70.98% of OceanFirst Financial's stock, indicating significant interest from major financial entities.
  • MarketBeat previews the top five stocks to own by November 1st.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised OceanFirst Financial from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $20.00 to $22.00 in a report on Friday, October 10th. DA Davidson raised OceanFirst Financial to a "hold" rating in a report on Monday, October 20th. Finally, Zacks Research downgraded OceanFirst Financial from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.80.

Get Our Latest Stock Report on OCFC

OceanFirst Financial Stock Up 2.7%

NASDAQ OCFC opened at $18.69 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.70. The stock's 50 day moving average is $18.07 and its two-hundred day moving average is $17.44. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.49 and a beta of 1.02. OceanFirst Financial has a 1-year low of $14.29 and a 1-year high of $21.87.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last released its quarterly earnings data on Wednesday, June 14th. The savings and loans company reported $0.49 earnings per share for the quarter. The company had revenue of $93.08 million for the quarter. OceanFirst Financial had a return on equity of 5.00% and a net margin of 11.77%. Equities analysts forecast that OceanFirst Financial will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new position in OceanFirst Financial during the 1st quarter worth $624,000. Vanguard Group Inc. lifted its holdings in OceanFirst Financial by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 3,516,177 shares of the savings and loans company's stock worth $59,810,000 after buying an additional 61,515 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in OceanFirst Financial by 61.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 31,441 shares of the savings and loans company's stock worth $535,000 after buying an additional 11,987 shares in the last quarter. Mendon Capital Advisors Corp lifted its holdings in OceanFirst Financial by 100.0% during the 1st quarter. Mendon Capital Advisors Corp now owns 100,000 shares of the savings and loans company's stock worth $1,701,000 after buying an additional 50,000 shares in the last quarter. Finally, Third Avenue Management LLC lifted its holdings in OceanFirst Financial by 91.7% during the 1st quarter. Third Avenue Management LLC now owns 116,643 shares of the savings and loans company's stock worth $1,984,000 after buying an additional 55,784 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

OceanFirst Financial Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in OceanFirst Financial Right Now?

Before you consider OceanFirst Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OceanFirst Financial wasn't on the list.

While OceanFirst Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Ride The A.I. Megaboom Cover


We are about to experience the greatest A.I. boom in stock market history...

Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.

That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.

  1. The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
  2. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
  3. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.

Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.

And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...

Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.

Get This Free Report
Like this article? Share it with a colleague.