OceanFirst Financial (NASDAQ:OCFC) Receives “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a report published on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $19.00 price target on the savings and loans company’s stock, down from their previous price target of $22.00.

Several other equities research analysts also recently issued reports on the stock. Stephens restated an equal weight rating and issued a $20.00 price objective on shares of OceanFirst Financial in a research note on Friday. Raymond James raised their price objective on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock an outperform rating in a research note on Monday, January 22nd. StockNews.com downgraded shares of OceanFirst Financial from a hold rating to a sell rating in a research note on Thursday, March 28th. Finally, TheStreet upgraded shares of OceanFirst Financial from a c+ rating to a b- rating in a research note on Monday, January 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $18.20.

OceanFirst Financial Trading Down 1.3 %

Shares of OCFC stock opened at $14.98 on Monday. OceanFirst Financial has a 12 month low of $12.01 and a 12 month high of $19.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $15.32 and its two-hundred day moving average is $15.39. The company has a market cap of $891.79 million, a PE ratio of 8.76 and a beta of 1.00.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.34%. OceanFirst Financial’s payout ratio is presently 46.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of OceanFirst Financial during the third quarter valued at $34,000. International Assets Investment Management LLC lifted its holdings in shares of OceanFirst Financial by 1,240.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock valued at $60,000 after acquiring an additional 3,213 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of OceanFirst Financial by 19.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock valued at $139,000 after acquiring an additional 1,550 shares during the period. SG Americas Securities LLC bought a new position in shares of OceanFirst Financial during the third quarter valued at $176,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of OceanFirst Financial by 42.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,725 shares of the savings and loans company’s stock valued at $184,000 after acquiring an additional 3,796 shares during the period. 70.98% of the stock is owned by institutional investors.

About OceanFirst Financial

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.