Zacks Investment Research lowered shares of OceanFirst Financial Corp. (NASDAQ:OCFC) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. “

Separately, BidaskClub downgraded OceanFirst Financial Corp. from a sell rating to a strong sell rating in a research report on Monday, August 14th.

OceanFirst Financial Corp. (OCFC) opened at 24.39 on Friday. The company’s 50-day moving average price is $25.75 and its 200 day moving average price is $27.19. The company has a market capitalization of $783.46 million, a price-to-earnings ratio of 21.08 and a beta of 0.63. OceanFirst Financial Corp. has a 52-week low of $18.99 and a 52-week high of $30.70.

WARNING: “Zacks Investment Research Lowers OceanFirst Financial Corp. (OCFC) to Hold” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright laws. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/09/11/zacks-investment-research-lowers-oceanfirst-financial-corp-ocfc-to-hold.html.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were paid a dividend of $0.15 per share. This is a boost from OceanFirst Financial Corp.’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.46%. The ex-dividend date was Thursday, August 3rd. OceanFirst Financial Corp.’s payout ratio is presently 51.72%.

In other OceanFirst Financial Corp. news, Director Steven E. Brady sold 3,825 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $24.89, for a total transaction of $95,204.25. Following the sale, the director now directly owns 67,177 shares of the company’s stock, valued at $1,672,035.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of OCFC. Teachers Advisors LLC increased its stake in OceanFirst Financial Corp. by 18.8% during the fourth quarter. Teachers Advisors LLC now owns 38,562 shares of the savings and loans company’s stock worth $1,158,000 after acquiring an additional 6,095 shares during the last quarter. Nationwide Fund Advisors increased its stake in OceanFirst Financial Corp. by 107.0% during the first quarter. Nationwide Fund Advisors now owns 32,844 shares of the savings and loans company’s stock worth $925,000 after acquiring an additional 16,977 shares during the last quarter. Acadian Asset Management LLC increased its stake in OceanFirst Financial Corp. by 134.5% during the first quarter. Acadian Asset Management LLC now owns 58,548 shares of the savings and loans company’s stock worth $1,650,000 after acquiring an additional 33,579 shares during the last quarter. Strs Ohio bought a new stake in OceanFirst Financial Corp. during the first quarter worth approximately $771,000. Finally, Russell Investments Group Ltd. increased its stake in OceanFirst Financial Corp. by 39.7% during the first quarter. Russell Investments Group Ltd. now owns 29,233 shares of the savings and loans company’s stock worth $824,000 after acquiring an additional 8,312 shares during the last quarter. 67.62% of the stock is currently owned by institutional investors.

About OceanFirst Financial Corp.

OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.

Get a free copy of the Zacks research report on OceanFirst Financial Corp. (OCFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for OceanFirst Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial Corp. and related stocks with our FREE daily email newsletter.