OceanFirst Financial Corp. (NASDAQ:OCFC – Get Free Report) EVP Brian Schaeffer sold 5,500 shares of OceanFirst Financial stock in a transaction on Monday, August 31st. The shares were sold at an average price of $18.91, for a total transaction of $104,005.00. Following the completion of the transaction, the executive vice president owned 83,068 shares in the company, valued at approximately $1,570,815.88. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
OceanFirst Financial Stock Down 1.6%
OCFC opened at $18.53 on Wednesday. The company has a market cap of $1.79 billion, a PE ratio of 21.80 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $19.34 and a two-hundred day moving average price of $18.79. OceanFirst Financial Corp. has a 52 week low of $17.05 and a 52 week high of $20.61.
OceanFirst Financial (NASDAQ:OCFC – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $131.33 million during the quarter, compared to the consensus estimate of $135.62 million. OceanFirst Financial had a return on equity of 5.34% and a net margin of 6.38%. As a group, research analysts anticipate that OceanFirst Financial Corp. will post 1.81 EPS for the current year.
OceanFirst Financial Dividend Announcement
Analysts Set New Price Targets
Several analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $21.00 price target (up from $19.00) on shares of OceanFirst Financial in a report on Wednesday, August 5th. Weiss Ratings raised shares of OceanFirst Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, OceanFirst Financial presently has an average rating of “Hold” and a consensus target price of $21.50.
Read Our Latest Stock Analysis on OceanFirst Financial
Institutional Investors Weigh In On OceanFirst Financial
Several hedge funds have recently modified their holdings of OCFC. Public Employees Retirement System of Ohio purchased a new stake in OceanFirst Financial in the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of OceanFirst Financial in the 2nd quarter worth about $27,000. Nykredit A S purchased a new position in OceanFirst Financial in the second quarter valued at approximately $30,000. GAMMA Investing LLC raised 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 valued at $37,000 after acquiring an additional 1,220 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of OceanFirst Financial during the second quarter worth about $85,000. 70.98% of the stock is owned by institutional investors and hedge funds.
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.
Read More
- Five stocks we like better than OceanFirst Financial
- Dutch Bros Sell-Off Creates a Growth Opportunity
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
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.
