OceanFirst Financial (NASDAQ:OCFC) PT Raised to $21.50 at Hovde Group

OceanFirst Financial (NASDAQ:OCFC) had its price target raised by equities research analysts at Hovde Group from $19.50 to $21.50 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the savings and loans company’s stock. Hovde Group’s price objective indicates a potential upside of 13.70% from the stock’s current price.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price objective (down from $19.00) on shares of OceanFirst Financial in a report on Friday, May 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.90.

OceanFirst Financial Trading Up 4.3 %

Shares of NASDAQ:OCFC opened at $18.91 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $1.11 billion, a P/E ratio of 11.06 and a beta of 1.01. The business’s 50-day moving average is $17.26 and its 200 day moving average is $15.95. OceanFirst Financial has a 1 year low of $12.01 and a 1 year high of $18.98.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.85%. The company had revenue of $170.41 million for the quarter, compared to analyst estimates of $94.93 million. During the same quarter in the previous year, the company posted $0.46 EPS. On average, research analysts predict that OceanFirst Financial will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OceanFirst Financial

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in OceanFirst Financial by 20.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 834,391 shares of the savings and loans company’s stock valued at $14,485,000 after purchasing an additional 139,047 shares in the last quarter. GSA Capital Partners LLP lifted its stake in OceanFirst Financial by 455.5% in the 1st quarter. GSA Capital Partners LLP now owns 71,704 shares of the savings and loans company’s stock valued at $1,177,000 after buying an additional 58,795 shares in the last quarter. Boston Partners boosted its holdings in OceanFirst Financial by 3.2% in the 1st quarter. Boston Partners now owns 1,391,127 shares of the savings and loans company’s stock worth $22,505,000 after buying an additional 42,966 shares during the last quarter. Russell Investments Group Ltd. increased its stake in OceanFirst Financial by 59,216.3% during the 1st quarter. Russell Investments Group Ltd. now owns 51,012 shares of the savings and loans company’s stock worth $837,000 after buying an additional 50,926 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of OceanFirst Financial by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company’s stock valued at $57,027,000 after acquiring an additional 105,764 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.