Zacks Investment Research downgraded shares of OceanFirst Financial Corp. (NASDAQ:OCFC) from a buy rating to a hold rating in a report released on Tuesday morning.

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

A number of other research analysts also recently issued reports on OCFC. BidaskClub downgraded OceanFirst Financial Corp. from a hold rating to a sell rating in a research note on Wednesday, July 19th. Sandler O’Neill upgraded OceanFirst Financial Corp. from a hold rating to a buy rating and set a $29.00 price objective for the company in a research note on Wednesday, September 20th. Finally, DA Davidson started coverage on OceanFirst Financial Corp. in a research note on Thursday, September 21st. They set a buy rating and a $31.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $30.50.

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) opened at 27.44 on Tuesday. OceanFirst Financial Corp. has a 12-month low of $19.02 and a 12-month high of $30.70. The firm’s 50-day moving average is $25.67 and its 200 day moving average is $26.80. The stock has a market capitalization of $881.43 million, a P/E ratio of 23.72 and a beta of 0.64.

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In related 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 value of $95,204.25. Following the transaction, the director now directly owns 67,177 shares of the company’s stock, valued at approximately $1,672,035.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in OceanFirst Financial Corp. by 0.4% in the 2nd quarter. Comerica Bank now owns 51,508 shares of the savings and loans company’s stock worth $1,390,000 after purchasing an additional 225 shares in the last quarter. Legal & General Group Plc lifted its holdings in OceanFirst Financial Corp. by 6.8% in the 1st quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock worth $184,000 after purchasing an additional 418 shares in the last quarter. Voya Investment Management LLC lifted its holdings in OceanFirst Financial Corp. by 13.3% in the 2nd quarter. Voya Investment Management LLC now owns 14,308 shares of the savings and loans company’s stock worth $388,000 after purchasing an additional 1,683 shares in the last quarter. Sei Investments Co. lifted its holdings in OceanFirst Financial Corp. by 80.5% in the 2nd quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock worth $102,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Strs Ohio lifted its holdings in OceanFirst Financial Corp. by 6.6% in the 2nd quarter. Strs Ohio now owns 29,200 shares of the savings and loans company’s stock worth $791,000 after purchasing an additional 1,800 shares in the last quarter. 67.78% 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.

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