Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) reached a new 52-week low during trading on Wednesday . The company traded as low as $21.22 and last traded at $21.23, with a volume of 7527 shares. The stock had previously closed at $21.82.

A number of research firms recently commented on OCFC. BidaskClub cut shares of OceanFirst Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. DA Davidson cut shares of OceanFirst Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $21.50 in a research note on Monday. Sandler O’Neill cut shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods cut shares of OceanFirst Financial from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $29.00 to $26.50 in a research note on Monday, July 29th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of OceanFirst Financial in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.60.

The company has a market capitalization of $1.15 billion, a P/E ratio of 10.76, a PEG ratio of 1.09 and a beta of 0.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average price is $24.51.

OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, July 25th. The savings and loans company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $74.72 million during the quarter, compared to analysts’ expectations of $77.38 million. OceanFirst Financial had a net margin of 27.15% and a return on equity of 9.53%. Equities analysts anticipate that OceanFirst Financial Corp. will post 2.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.20%. This is a boost from OceanFirst Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 2nd. OceanFirst Financial’s payout ratio is 34.34%.

A number of institutional investors have recently added to or reduced their stakes in OCFC. Dimensional Fund Advisors LP boosted its position in OceanFirst Financial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,871,011 shares of the savings and loans company’s stock valued at $64,627,000 after buying an additional 103,224 shares during the period. Legal & General Group Plc boosted its position in OceanFirst Financial by 12.7% in the 4th quarter. Legal & General Group Plc now owns 8,286 shares of the savings and loans company’s stock valued at $187,000 after buying an additional 934 shares during the period. Sciencast Management LP purchased a new stake in OceanFirst Financial in the 1st quarter valued at about $228,000. Mercer Capital Advisers Inc. boosted its position in OceanFirst Financial by 1.6% in the 1st quarter. Mercer Capital Advisers Inc. now owns 43,625 shares of the savings and loans company’s stock valued at $1,050,000 after buying an additional 675 shares during the period. Finally, Pwmco LLC lifted its position in shares of OceanFirst Financial by 275.1% in the 1st quarter. Pwmco LLC now owns 251,800 shares of the savings and loans company’s stock worth $6,058,000 after purchasing an additional 184,663 shares during the period. 68.56% of the stock is owned by institutional investors.

OceanFirst Financial Company Profile (NASDAQ:OCFC)

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

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