Piper Jaffray Companies restated their buy rating on shares of OceanFirst Financial (NASDAQ:OCFC) in a research report sent to investors on Monday. The firm currently has a $32.00 price target on the savings and loans company’s stock.

OCFC has been the subject of several other reports. Zacks Investment Research lowered shares of OceanFirst Financial from a buy rating to a hold rating in a report on Wednesday, November 22nd. BidaskClub lowered shares of OceanFirst Financial from a sell rating to a strong sell rating in a report on Thursday, December 14th. ValuEngine lowered shares of OceanFirst Financial from a buy rating to a hold rating in a report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods restated a buy rating and issued a $37.00 price objective on shares of OceanFirst Financial in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $31.83.

Shares of OceanFirst Financial (NASDAQ OCFC) opened at $26.41 on Monday. 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 1-year low of $24.02 and a 1-year high of $30.65. The company has a market cap of $860.50, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.37 and a beta of 0.56.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. OceanFirst Financial had a net margin of 19.67% and a return on equity of 9.54%. The business had revenue of $49.25 million during the quarter, compared to analyst estimates of $50.52 million. equities analysts anticipate that OceanFirst Financial will post 1.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, February 2nd. OceanFirst Financial’s dividend payout ratio is 46.88%.

In other OceanFirst Financial news, Director Steven E. Brady sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $26.02, for a total transaction of $520,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Joseph R. Iantosca sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $26.40, for a total transaction of $132,000.00. The disclosure for this sale can be found here. Insiders have sold 26,490 shares of company stock valued at $692,228 in the last ninety days. Insiders own 7.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in OCFC. Schwab Charles Investment Management Inc. increased its stake in shares of OceanFirst Financial by 10.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 109,614 shares of the savings and loans company’s stock valued at $2,973,000 after purchasing an additional 10,570 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of OceanFirst Financial by 26.1% during the second quarter. Wells Fargo & Company MN now owns 122,432 shares of the savings and loans company’s stock valued at $3,320,000 after purchasing an additional 25,321 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of OceanFirst Financial by 38.9% during the second quarter. Alliancebernstein L.P. now owns 43,200 shares of the savings and loans company’s stock valued at $1,172,000 after purchasing an additional 12,100 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of OceanFirst Financial by 27.8% during the second quarter. Teachers Advisors LLC now owns 56,534 shares of the savings and loans company’s stock valued at $1,533,000 after purchasing an additional 12,299 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of OceanFirst Financial by 16.7% during the second quarter. TIAA CREF Investment Management LLC now owns 82,726 shares of the savings and loans company’s stock valued at $2,244,000 after purchasing an additional 11,831 shares in the last quarter. 71.11% of the stock is owned by institutional investors and hedge funds.

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About OceanFirst Financial

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.

Analyst Recommendations for OceanFirst Financial (NASDAQ:OCFC)

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