OceanFirst Financial (NASDAQ:OCFC – Get Free Report)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They currently have a $21.00 price objective on the savings and loans company’s stock, up from their previous price objective of $19.00. Piper Sandler’s price objective points to a potential upside of 6.41% from the stock’s current price.
Several other equities analysts also recently issued reports on OCFC. Weiss Ratings upgraded shares of OceanFirst Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. DA Davidson upped their price target on shares of OceanFirst Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.50.
View Our Latest Stock Report on OCFC
OceanFirst Financial Trading Down 0.4%
OceanFirst Financial (NASDAQ:OCFC – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $131.33 million for the quarter, compared to analysts’ expectations of $135.62 million. OceanFirst Financial had a return on equity of 5.94% and a net margin of 6.38%. As a group, analysts expect that OceanFirst Financial will post 1.85 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of OceanFirst Financial by 174.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,918 shares of the savings and loans company’s stock worth $37,000 after acquiring an additional 1,220 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of OceanFirst Financial by 458.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,526 shares of the savings and loans company’s stock valued at $150,000 after purchasing an additional 6,998 shares during the period. Byrne Asset Management LLC boosted its holdings in OceanFirst Financial by 7.0% in the second quarter. Byrne Asset Management LLC now owns 9,230 shares of the savings and loans company’s stock valued at $180,000 after purchasing an additional 600 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of OceanFirst Financial in the 4th quarter worth about $184,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in OceanFirst Financial by 7.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 10,285 shares of the savings and loans company’s stock worth $181,000 after purchasing an additional 673 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.
OceanFirst Financial Company Profile
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.
Featured Articles
- Five stocks we like better than OceanFirst Financial
- 3 Stocks That Prove the AI Trade Isn’t Over, It Moved
- The FTC Is Suing Hims & Hers Health—Here’s Why Investors Shouldn’t Panic
- 3 Stocks Taking Very Different Routes Through the Summer Rally
- Is ADM’s Rally Getting Ahead of Its Policy Tailwind?
Receive News & Ratings for OceanFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.
