OceanFirst Financial’s (OCFC) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a research note released on Monday, Benzinga reports. They currently have a $19.00 price target on the savings and loans company’s stock, down from their prior price target of $22.00.

A number of other equities analysts have also recently weighed in on the stock. Raymond James upped their price objective on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company an outperform rating in a research report on Monday, January 22nd. StockNews.com lowered shares of OceanFirst Financial from a hold rating to a sell rating in a research note on Thursday, March 28th. TheStreet upgraded shares of OceanFirst Financial from a c+ rating to a b- rating in a research note on Monday, January 8th. Finally, Stephens restated an equal weight rating and issued a $20.00 price target on shares of OceanFirst Financial in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $18.20.

OceanFirst Financial Trading Up 0.2 %

Shares of OCFC opened at $15.47 on Monday. The stock has a fifty day moving average of $15.34 and a two-hundred day moving average of $15.40. 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 company has a market capitalization of $920.93 million, a PE ratio of 9.05 and a beta of 1.00. OceanFirst Financial has a fifty-two week low of $12.01 and a fifty-two week high of $19.58.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.17%. OceanFirst Financial’s dividend payout ratio is presently 46.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. bought a new stake in OceanFirst Financial during the first quarter worth approximately $216,000. Hennessy Advisors Inc. boosted its holdings in OceanFirst Financial by 2.4% during the first quarter. Hennessy Advisors Inc. now owns 210,000 shares of the savings and loans company’s stock worth $3,446,000 after buying an additional 5,000 shares in the last quarter. Eagle Wealth Strategies LLC boosted its holdings in OceanFirst Financial by 25.1% during the first quarter. Eagle Wealth Strategies LLC now owns 68,172 shares of the savings and loans company’s stock worth $1,078,000 after buying an additional 13,690 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in OceanFirst Financial by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company’s stock worth $303,000 after buying an additional 1,016 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in OceanFirst Financial by 6.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,046,061 shares of the savings and loans company’s stock worth $18,160,000 after buying an additional 66,868 shares in the last quarter. Institutional investors and hedge funds 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.