OceanFirst Financial Corp. (NASDAQ:OCFC) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.00.

Several equities analysts have recently weighed in on OCFC shares. Sandler O’Neill upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, September 20th. Zacks Investment Research cut OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Friday, September 8th. ValuEngine cut OceanFirst Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Piper Jaffray Companies restated a “buy” rating and issued a $31.00 target price on shares of OceanFirst Financial in a research note on Friday, October 27th. Finally, DA Davidson assumed coverage on OceanFirst Financial in a research note on Thursday, September 21st. They issued a “buy” rating and a $31.00 target price on the stock.

In other OceanFirst Financial news, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total value of $77,420.00. Following the sale, the director now owns 72,562 shares in the company, valued at approximately $2,006,339.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of OceanFirst Financial by 80.5% during 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. BNP Paribas Arbitrage SA raised its stake in shares of OceanFirst Financial by 2,366.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock worth $107,000 after purchasing an additional 3,786 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of OceanFirst Financial during the 3rd quarter worth approximately $165,000. Legal & General Group Plc raised its stake in shares of OceanFirst Financial by 6.8% during 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. Finally, Trexquant Investment LP bought a new stake in shares of OceanFirst Financial during the 3rd quarter worth approximately $201,000. Institutional investors own 69.52% of the company’s stock.

OceanFirst Financial (NASDAQ:OCFC) opened at $26.77 on Tuesday. OceanFirst Financial has a 1-year low of $23.61 and a 1-year high of $30.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $875.15, a PE ratio of 16.48, a PEG ratio of 1.58 and a beta of 0.61.

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

The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, November 3rd. OceanFirst Financial’s payout ratio is 50.00%.

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About OceanFirst Financial

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.

Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

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