OceanFirst Financial (NASDAQ:OCFC) Earns “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a report published on Monday morning, Benzinga reports. They currently have a $19.00 price objective on the savings and loans company’s stock, down from their prior price objective of $22.00.

Other analysts have also issued reports about the stock. Stephens reiterated an equal weight rating and set a $20.00 price target on shares of OceanFirst Financial in a research note on Friday, April 19th. TheStreet upgraded OceanFirst Financial from a c+ rating to a b- rating in a research note on Monday, January 8th. Raymond James raised their price target on OceanFirst Financial from $21.00 to $22.00 and gave the company an outperform rating in a research note on Monday, January 22nd. Finally, StockNews.com lowered OceanFirst Financial from a hold rating to a sell rating in a report on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $18.20.

OceanFirst Financial Stock Up 0.2 %

OceanFirst Financial stock opened at $15.47 on Monday. The company has a market capitalization of $920.93 million, a PE ratio of 9.05 and a beta of 1.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.98 and a current ratio of 0.98. OceanFirst Financial has a fifty-two week low of $12.01 and a fifty-two week high of $19.58. The firm has a 50 day moving average price of $15.34 and a 200 day moving average price of $15.40.

OceanFirst Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Friday, May 3rd. OceanFirst Financial’s dividend payout ratio is currently 46.78%.

Hedge Funds Weigh In On OceanFirst Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in OCFC. Hennion & Walsh Asset Management Inc. acquired a new stake in OceanFirst Financial in the first quarter valued at about $216,000. Hennessy Advisors Inc. increased its position in shares of OceanFirst Financial by 2.4% in the first quarter. Hennessy Advisors Inc. now owns 210,000 shares of the savings and loans company’s stock valued at $3,446,000 after buying an additional 5,000 shares in the last quarter. Eagle Wealth Strategies LLC increased its position in shares of OceanFirst Financial by 25.1% in the first quarter. Eagle Wealth Strategies LLC now owns 68,172 shares of the savings and loans company’s stock valued at $1,078,000 after buying an additional 13,690 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of OceanFirst Financial by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company’s stock valued at $303,000 after buying an additional 1,016 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of OceanFirst Financial by 6.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,046,061 shares of the savings and loans company’s stock valued at $18,160,000 after buying an additional 66,868 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.