OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.66 and traded as high as $19.10. OceanFirst Financial shares last traded at $19.05, with a volume of 545,306 shares traded.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on OCFC. Wall Street Zen raised OceanFirst Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of OceanFirst Financial in a research report on Tuesday, April 21st. Finally, DA Davidson upped their price target on OceanFirst Financial from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $21.67.
Get Our Latest Report on OCFC
OceanFirst Financial Price Performance
The firm has a 50 day moving average price of $18.42 and a two-hundred day moving average price of $18.66. The company has a market cap of $1.10 billion, a P/E ratio of 16.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.01 and a current ratio of 1.00.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. OceanFirst Financial had a return on equity of 5.35% and a net margin of 10.04%.The business had revenue of $103.20 million for the quarter, compared to analysts' expectations of $143.25 million. On average, analysts predict that OceanFirst Financial Corp. will post 1.83 EPS for the current fiscal year.
OceanFirst Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, April 27th. OceanFirst Financial's payout ratio is currently 68.38%.
Institutional Investors Weigh In On OceanFirst Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in OceanFirst Financial by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 470,092 shares of the savings and loans company's stock valued at $8,480,000 after acquiring an additional 1,896 shares during the period. Fifth Third Bancorp bought a new stake in OceanFirst Financial in the 1st quarter valued at about $500,000. Addison Capital Co raised its stake in OceanFirst Financial by 34.6% in the 1st quarter. Addison Capital Co now owns 165,173 shares of the savings and loans company's stock valued at $2,980,000 after acquiring an additional 42,450 shares during the period. Strs Ohio raised its stake in OceanFirst Financial by 8.7% in the 1st quarter. Strs Ohio now owns 38,800 shares of the savings and loans company's stock valued at $700,000 after acquiring an additional 3,100 shares during the period. Finally, MQS Management LLC bought a new stake in OceanFirst Financial in the 1st quarter valued at about $279,000. 70.98% of the stock is currently owned by institutional investors.
About OceanFirst Financial
(
Get Free Report)
OceanFirst Financial Corporation NASDAQ: OCFC is a bank holding company headquartered in Toms River, New Jersey, that provides a full range of community banking and financial services through its principal subsidiary, OceanFirst Bank. Established in the early 20th century, the company has built its business around serving the deposit, lending and wealth management needs of individuals, small businesses, municipalities and nonprofit organizations across New Jersey and portions of New York.
The company's core activities include accepting consumer and business deposits, making commercial, municipal and consumer loans, and offering residential mortgage financing.
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