ValuEngine downgraded shares of OceanFirst Financial Corp. (NASDAQ:OCFC) from a buy rating to a hold rating in a report released on Thursday morning.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of OceanFirst Financial Corp. from a strong sell rating to a hold rating in a report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a buy rating and issued a $31.00 target price on shares of OceanFirst Financial Corp. in a research report on Friday, October 27th. BidaskClub downgraded shares of OceanFirst Financial Corp. from a hold rating to a sell rating in a research report on Wednesday, July 19th. DA Davidson assumed coverage on shares of OceanFirst Financial Corp. in a research report on Thursday, September 21st. They issued a buy rating and a $31.00 target price on the stock. Finally, Sandler O’Neill raised shares of OceanFirst Financial Corp. from a hold rating to a buy rating and set a $29.00 target price on the stock in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. OceanFirst Financial Corp. has a consensus rating of Buy and a consensus target price of $31.00.

Shares of OceanFirst Financial Corp. (NASDAQ OCFC) traded up $0.14 on Thursday, hitting $25.84. 181,000 shares of the stock were exchanged, compared to its average volume of 135,590. OceanFirst Financial Corp. has a fifty-two week low of $21.65 and a fifty-two week high of $30.70. The firm has a market cap of $841.93, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.52 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.94 and a quick ratio of 0.94.

OceanFirst Financial Corp. (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. OceanFirst Financial Corp. had a net margin of 18.59% and a return on equity of 8.87%. The business had revenue of $50.42 million for the quarter, compared to analyst estimates of $50.41 million. equities research analysts expect that OceanFirst Financial Corp. will post 1.7 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 3rd. OceanFirst Financial Corp.’s dividend payout ratio (DPR) is 50.00%.

In other OceanFirst Financial Corp. news, Director Steven E. Brady sold 3,825 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $24.89, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Brady sold 2,800 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total transaction of $77,420.00. Following the transaction, the director now directly owns 72,562 shares in the company, valued at $2,006,339.30. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in OceanFirst Financial Corp. by 7.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,442,218 shares of the savings and loans company’s stock worth $39,647,000 after purchasing an additional 97,697 shares during the last quarter. Renaissance Technologies LLC grew its position in OceanFirst Financial Corp. by 10.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,332,791 shares of the savings and loans company’s stock worth $36,145,000 after purchasing an additional 131,100 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of OceanFirst Financial Corp. by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,207,543 shares of the savings and loans company’s stock valued at $32,749,000 after acquiring an additional 55,625 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of OceanFirst Financial Corp. by 16.5% in the second quarter. Goldman Sachs Group Inc. now owns 902,624 shares of the savings and loans company’s stock valued at $24,479,000 after acquiring an additional 127,888 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of OceanFirst Financial Corp. by 5.8% in the second quarter. William Blair Investment Management LLC now owns 680,480 shares of the savings and loans company’s stock valued at $18,455,000 after acquiring an additional 37,505 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors.

OceanFirst Financial Corp. Company Profile

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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Analyst Recommendations for OceanFirst Financial Corp. (NASDAQ:OCFC)

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