OceanFirst Financial Corp. (NASDAQ:OCFC) Receives $21.67 Consensus PT from Analysts

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) have earned an average rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $21.6667.

Several research firms recently weighed in on OCFC. DA Davidson upped their price objective on shares of OceanFirst Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of OceanFirst Financial in a research report on Tuesday, April 21st.

Institutional Investors Weigh In On OceanFirst Financial

A number of institutional investors have recently added to or reduced their stakes in OCFC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in OceanFirst Financial by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,193 shares of the savings and loans company’s stock worth $582,000 after purchasing an additional 1,461 shares during the period. Empowered Funds LLC lifted its holdings in OceanFirst Financial by 5.5% in the 1st quarter. Empowered Funds LLC now owns 140,481 shares of the savings and loans company’s stock valued at $2,390,000 after acquiring an additional 7,359 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in OceanFirst Financial by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,122 shares of the savings and loans company’s stock valued at $2,417,000 after acquiring an additional 11,262 shares during the last quarter. Jane Street Group LLC lifted its holdings in OceanFirst Financial by 107.0% in the 1st quarter. Jane Street Group LLC now owns 88,353 shares of the savings and loans company’s stock valued at $1,503,000 after acquiring an additional 45,673 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in OceanFirst Financial by 15.6% in the 2nd quarter. Prudential Financial Inc. now owns 24,450 shares of the savings and loans company’s stock valued at $431,000 after acquiring an additional 3,295 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Stock Performance

OCFC stock opened at $18.40 on Friday. The company has a market capitalization of $1.06 billion, a P/E ratio of 15.73 and a beta of 0.99. The company has a 50-day simple moving average of $18.63 and a 200 day simple moving average of $18.71. OceanFirst Financial has a fifty-two week low of $16.09 and a fifty-two week high of $20.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.88.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $103.20 million during the quarter, compared to the consensus estimate of $143.25 million. OceanFirst Financial had a net margin of 10.04% and a return on equity of 5.35%. Sell-side analysts predict that OceanFirst Financial will post 1.87 earnings per share for the current fiscal year.

OceanFirst Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, April 27th. OceanFirst Financial’s dividend payout ratio is 68.38%.

About OceanFirst Financial

OceanFirst Financial Corporation (NASDAQ: OCFC) is a bank holding company headquartered in Toms River, New Jersey, that provides a full range of community banking and financial services through its principal subsidiary, OceanFirst Bank. Established in the early 20th century, the company has built its business around serving the deposit, lending and wealth management needs of individuals, small businesses, municipalities and nonprofit organizations across New Jersey and portions of New York.

The company’s core activities include accepting consumer and business deposits, making commercial, municipal and consumer loans, and offering residential mortgage financing.