OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $15.29, but opened at $15.90. OceanFirst Financial shares last traded at $15.68, with a volume of 21,843 shares trading hands.
Wall Street Analyst Weigh In
OCFC has been the subject of a number of recent research reports. Stephens reaffirmed an "equal weight" rating and set a $22.00 price target on shares of OceanFirst Financial in a research note on Friday, January 24th. Raymond James cut their price objective on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Hovde Group decreased their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, OceanFirst Financial presently has an average rating of "Hold" and a consensus target price of $21.00.
Read Our Latest Analysis on OCFC
OceanFirst Financial Trading Up 0.4 %
The firm has a market capitalization of $919.50 million, a P/E ratio of 9.55 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The company's fifty day moving average is $16.83 and its 200-day moving average is $18.16.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. As a group, sell-side analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.
OceanFirst Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.80 annualized dividend and a dividend yield of 5.08%. OceanFirst Financial's payout ratio is 48.48%.
Institutional Trading of OceanFirst Financial
A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in shares of OceanFirst Financial by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,228,902 shares of the savings and loans company's stock valued at $58,442,000 after acquiring an additional 53,476 shares in the last quarter. Invesco Ltd. boosted its holdings in OceanFirst Financial by 4.2% during the fourth quarter. Invesco Ltd. now owns 1,675,259 shares of the savings and loans company's stock valued at $30,322,000 after purchasing an additional 67,010 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of OceanFirst Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,421,373 shares of the savings and loans company's stock valued at $26,428,000 after purchasing an additional 27,579 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 157,711 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of OceanFirst Financial by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,208,800 shares of the savings and loans company's stock worth $21,879,000 after buying an additional 121,923 shares during the period. 70.98% of the stock is owned by institutional investors.
About OceanFirst Financial
(
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.
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