BidaskClub lowered shares of OceanFirst Financial (NASDAQ:OCFC) from a hold rating to a sell rating in a report issued on Saturday morning.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded OceanFirst Financial from a hold rating to a buy rating and set a $31.00 target price on the stock in a research report on Thursday, November 2nd. Piper Jaffray Companies reiterated a buy rating and set a $31.00 target price on shares of OceanFirst Financial in a research report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a buy rating and set a $37.00 target price on shares of OceanFirst Financial in a research report on Friday, December 22nd. ValuEngine upgraded OceanFirst Financial from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, Hovde Group started coverage on OceanFirst Financial in a research report on Monday, October 9th. They set an outperform rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. OceanFirst Financial has an average rating of Buy and a consensus target price of $31.83.

OceanFirst Financial (NASDAQ OCFC) opened at $28.02 on Friday. The stock has a market capitalization of $911.33, a price-to-earnings ratio of 23.35, a PEG ratio of 1.55 and a beta of 0.60. OceanFirst Financial has a 52 week low of $24.02 and a 52 week high of $30.65. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.55.

OceanFirst Financial (NASDAQ:OCFC) last released its earnings results 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. The company had revenue of $50.42 million for the quarter, compared to the consensus estimate of $50.41 million. OceanFirst Financial had a return on equity of 8.87% and a net margin of 18.59%. research analysts predict that OceanFirst Financial will post 1.7 earnings per share for the current year.

In other news, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in OCFC. BNP Paribas Arbitrage SA lifted its position in shares of OceanFirst Financial by 2,366.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after acquiring an additional 3,786 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of OceanFirst Financial in the third quarter valued at about $165,000. Trexquant Investment LP purchased a new position in shares of OceanFirst Financial in the third quarter valued at about $201,000. Legal & General Group Plc lifted its position in shares of OceanFirst Financial by 16.2% in the second quarter. Legal & General Group Plc now owns 7,589 shares of the savings and loans company’s stock valued at $206,000 after acquiring an additional 1,058 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in shares of OceanFirst Financial in the third quarter valued at about $224,000. Institutional investors and hedge funds own 70.95% of the company’s stock.

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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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