OceanFirst Financial (OCFC) Lowered to Hold at ValuEngine

OceanFirst Financial (NASDAQ:OCFC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, November 9th.

A number of other equities analysts have also weighed in on OCFC. BidaskClub lowered shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of OceanFirst Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Sandler O’Neill upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Wednesday, September 20th. DA Davidson assumed coverage on shares of OceanFirst Financial in a research report on Thursday, September 21st. They set a “buy” rating and a $31.00 target price for the company. Finally, Hovde Group assumed coverage on shares of OceanFirst Financial in a research note on Monday, October 9th. They set an “outperform” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. OceanFirst Financial presently has an average rating of “Buy” and an average target price of $31.00.

OceanFirst Financial (NASDAQ OCFC) opened at $27.31 on Thursday. The firm has a market cap of $875.16, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61. OceanFirst Financial has a 12-month low of $23.61 and a 12-month high of $30.70. 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 (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. OceanFirst Financial had a net margin of 18.59% and a return on equity of 8.87%. The business had revenue of $50.42 million during the quarter, compared to analyst estimates of $50.41 million. sell-side analysts anticipate that OceanFirst Financial will post 1.7 EPS for the current year.

In related news, Director Steven E. Brady sold 2,800 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the sale, the director now owns 72,562 shares of the company’s stock, valued at $2,006,339.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of OceanFirst Financial by 7.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,442,218 shares of the savings and loans company’s stock valued at $39,647,000 after acquiring an additional 97,697 shares during the period. Renaissance Technologies LLC raised its stake in shares of OceanFirst Financial by 10.9% in the second quarter. Renaissance Technologies LLC now owns 1,332,791 shares of the savings and loans company’s stock valued at $36,145,000 after acquiring an additional 131,100 shares during the period. Vanguard Group Inc. raised its stake in shares of OceanFirst Financial 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 during the period. Goldman Sachs Group Inc. raised its stake in shares of OceanFirst Financial 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 during the period. Finally, William Blair Investment Management LLC raised its stake in shares of OceanFirst Financial 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 during the period. 70.93% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “OceanFirst Financial (OCFC) Lowered to Hold at ValuEngine” was originally posted by BBNS and is owned by of BBNS. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://baseballnewssource.com/markets/oceanfirst-financial-corp-ocfc-downgraded-to-hold-at-valuengine/1771510.html.

OceanFirst Financial 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

Receive News & Ratings for OceanFirst Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial Corp. and related companies with our FREE daily email newsletter.

 


Latest News

Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot


Leave a Reply

 
© 2006-2017 BBNS.