OceanFirst Financial (OCFC) Upgraded by BidaskClub to Sell
BidaskClub upgraded shares of OceanFirst Financial (NASDAQ:OCFC) from a strong sell rating to a sell rating in a report released on Friday morning.
Several other equities analysts also recently weighed in on OCFC. Hovde Group began coverage on shares of OceanFirst Financial in a report on Monday, October 9th. They set an outperform rating and a $32.00 target price for the company. Zacks Investment Research downgraded shares of OceanFirst Financial from a buy rating to a hold rating in a report on Tuesday, October 3rd. DA Davidson began coverage on shares of OceanFirst Financial in a report on Thursday, September 21st. They set a buy rating and a $31.00 target price for the company. Piper Jaffray Companies restated a buy rating and set a $31.00 target price on shares of OceanFirst Financial in a report on Friday, October 27th. Finally, ValuEngine upgraded shares of OceanFirst Financial from a hold rating to a buy rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. OceanFirst Financial currently has a consensus rating of Buy and a consensus target price of $31.83.
Shares of OceanFirst Financial (NASDAQ OCFC) opened at $26.94 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.55. OceanFirst Financial has a 52 week low of $24.02 and a 52 week high of $30.70. The company has a market cap of $877.77, a PE ratio of 22.45, a P/E/G ratio of 1.58 and a beta of 0.60.
In other news, Director Steven E. Brady sold 2,800 shares of OceanFirst Financial stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the completion of the sale, the director now directly owns 72,562 shares in the company, valued at $2,006,339.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of OceanFirst Financial by 80.5% during the second quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock worth $102,000 after buying an additional 1,684 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of OceanFirst Financial by 2,366.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock worth $107,000 after buying an additional 3,786 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of OceanFirst Financial during the third quarter worth about $165,000. Trexquant Investment LP purchased a new stake in shares of OceanFirst Financial during the third quarter worth about $201,000. Finally, Legal & General Group Plc grew its holdings in shares of OceanFirst Financial by 16.2% during the second quarter. Legal & General Group Plc now owns 7,589 shares of the savings and loans company’s stock worth $206,000 after buying an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 70.93% of the company’s stock.
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OceanFirst Financial Company Profile
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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