The stock of OceanFirst Financial Corp. (NASDAQ:OCFC) last traded at $19.40, up 7.36% from the previous session.
Data from the available sources indicates that OceanFirst Financial Corp. (NASDAQ:OCFC) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. OCFC stock price is now -15.66% away from the 50-day moving average and -8.63% away from the 200-day moving average. The market capitalization of the company currently stands at $1.19B.
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In total, 3 analysts have assigned it a hold rating, and 4 have given it a buy rating.
With the price target maintained at $25, Piper Sandler recently Downgraded its rating from Overweight to Neutral for OceanFirst Financial Corp. (NASDAQ: OCFC)., while ‘Piper Sandler’ rates the stock as ‘Overweight’.
In other news, Devlin Michael D, Director sold 60,000 shares of the company’s stock on Aug 02. The stock was sold for $1,236,600 at an average price of $20.61. Upon completion of the transaction, the Director now directly owns 52,114 shares in the company, valued at $1.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 24, Executive Vice President & CFO Barrett Patrick Sean bought 10,500 shares of the business’s stock. A total of $198,555 was incurred on buying the stock at an average price of $18.91. This leaves the insider owning 20,508 shares of the company worth $0.4 million. Insiders disposed of 62,206 shares of company stock worth roughly $1.21 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OCFC stock. A new stake in OceanFirst Financial Corp. shares was purchased by BOSTON PARTNERS during the first quarter worth $9,220,000. KNIGHTS OF COLUMBUS ASSET ADVISORS LLC invested $2,170,000 in shares of OCFC during the first quarter. In the first quarter, STATE OF NEW JERSEY COMMON PENSION FUND D acquired a new stake in OceanFirst Financial Corp. valued at approximately $1,944,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in OCFC for approximately $1,019,000. SEIZERT CAPITAL PARTNERS, LLC purchased a new stake in OCFC valued at around $915,000 in the second quarter. In total, there are 264 active investors with 72.40% ownership of the company’s stock.
With an opening price of $19.52 on Tuesday morning, OceanFirst Financial Corp. (NASDAQ: OCFC) set off the trading day. During the past 12 months, OceanFirst Financial Corp. has had a low of $17.72 and a high of $24.93. The fifty day moving average price for OCFC is $22.96 and a two-hundred day moving average price translates $21.23 for the stock.
The latest earnings results from OceanFirst Financial Corp. (NASDAQ: OCFC) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.67, beating analysts’ expectations of $0.62 by 0.05. This compares to $0.37 EPS in the same period last year. The net profit margin was 33.10% and return on equity was 9.30% for OCFC. The company reported revenue of $130.28 million for the quarter, compared to $88.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.28 percent. For the current quarter, analysts expect OCFC to generate $107.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/17/2023. Investors who held shares on 02/06/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 4.12% percent yield. There was an ex-dividend date of 02/03/2023 for this dividend. In terms of dividend payout ratio, OCFC is presently at 30.50%.
OceanFirst Financial Corp.(OCFC) Company Profile
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers. The company also offers commercial real estate, multi-family, land loans, construction, and commercial and industrial loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; and consumer loans, such as home equity loans and lines of credit, student loans, overdraft line of credit, loans on savings accounts, and other consumer loans. In addition, it invests in mortgage-backed securities, securities issued by the U.S. Government and agencies, corporate securities, and other investments. Further, the company offers bankcard, wealth management, and trust and asset management services; and sells alternative investment products and life insurance products. As of December 31, 2021, it operated through its branch office in Toms River; administrative office located in Red Bank and Mount Laurel; 46 additional branch offices and four deposit production facilities located throughout central and southern New Jersey; and commercial loan production offices in New Jersey, New York City, the Philadelphia area, Baltimore, and Boston. The company was founded in 1902 and is based in Red Bank, New Jersey.
