OceanFirst Financial (NASDAQ:OCFC) Stock Rating Upgraded by DA Davidson

OceanFirst Financial (NASDAQ:OCFC) was upgraded by analysts at DA Davidson to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on OCFC. Zacks Research downgraded shares of OceanFirst Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Weiss Ratings reissued a “hold (c)” rating on shares of OceanFirst Financial in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised shares of OceanFirst Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $22.00 in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, OceanFirst Financial presently has a consensus rating of “Hold” and an average target price of $21.80.

OceanFirst Financial Stock Up 1.2%

OceanFirst Financial stock opened at $19.02 on Monday. OceanFirst Financial has a twelve month low of $14.29 and a twelve month high of $21.87. The firm has a 50 day moving average price of $17.99 and a 200-day moving average price of $17.36. The company has a market capitalization of $1.09 billion, a P/E ratio of 13.49 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.70.

OceanFirst Financial (NASDAQ:OCFC) last released its earnings results on Wednesday, June 14th. The savings and loans company reported $0.49 earnings per share for the quarter. OceanFirst Financial had a net margin of 12.89% and a return on equity of 5.22%. The firm had revenue of $93.08 million during the quarter. As a group, equities analysts predict that OceanFirst Financial will post 1.6 EPS for the current year.

Institutional Trading of OceanFirst Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP lifted its stake in OceanFirst Financial by 132.3% in the 1st quarter. Quarry LP now owns 7,325 shares of the savings and loans company’s stock worth $125,000 after purchasing an additional 4,172 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in OceanFirst Financial by 458.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,526 shares of the savings and loans company’s stock worth $150,000 after purchasing an additional 6,998 shares in the last quarter. Aigen Investment Management LP purchased a new stake in OceanFirst Financial in the 1st quarter worth approximately $175,000. EMC Capital Management lifted its stake in OceanFirst Financial by 8.7% in the 2nd quarter. EMC Capital Management now owns 9,952 shares of the savings and loans company’s stock worth $175,000 after purchasing an additional 800 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in OceanFirst Financial by 7.0% in the 2nd 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 in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

OceanFirst Financial Company Profile

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.