OceanFirst Financial Corp. (NASDAQ:OCFC)’s share price hit a new 52-week high on Thursday . The stock traded as high as $30.90 and last traded at $30.89, with a volume of 10535 shares changing hands. The stock had previously closed at $30.76.
Several equities analysts have weighed in on OCFC shares. BidaskClub cut OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. ValuEngine raised OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research cut OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.50.
The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1.47 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.57.
OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, April 26th. The savings and loans company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. OceanFirst Financial had a return on equity of 9.04% and a net margin of 15.23%. The company had revenue of $64.62 million during the quarter, compared to analysts’ expectations of $58.24 million. equities research analysts anticipate that OceanFirst Financial Corp. will post 2.01 earnings per share for the current year.
In other news, Director Michael D. Devlin sold 20,547 shares of the business’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $27.00, for a total transaction of $554,769.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Devlin sold 1,453 shares of the business’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $27.00, for a total value of $39,231.00. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new position in shares of OceanFirst Financial during the 1st quarter worth $374,000. Millennium Management LLC raised its holdings in shares of OceanFirst Financial by 58.1% during the 1st quarter. Millennium Management LLC now owns 496,997 shares of the savings and loans company’s stock worth $13,295,000 after buying an additional 182,674 shares in the last quarter. California State Teachers Retirement System increased its holdings in OceanFirst Financial by 22.6% in the 1st quarter. California State Teachers Retirement System now owns 60,904 shares of the savings and loans company’s stock worth $1,629,000 after purchasing an additional 11,209 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in OceanFirst Financial by 21.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,315 shares of the savings and loans company’s stock worth $784,000 after purchasing an additional 5,202 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in OceanFirst Financial by 28.6% in the 1st quarter. MetLife Investment Advisors LLC now owns 19,443 shares of the savings and loans company’s stock worth $520,000 after purchasing an additional 4,321 shares in the last quarter. 71.30% of the stock is owned by institutional investors.
OceanFirst Financial Company Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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