OceanFirst Financial (NASDAQ:OCFC) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

OceanFirst Financial (NASDAQ:OCFC)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a report released on Monday, Benzinga reports. They presently have a $19.00 price objective on the savings and loans company’s stock, down from their previous price objective of $22.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 23.06% from the stock’s previous close.

Several other research firms have also weighed in on OCFC. Raymond James raised their price objective on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. StockNews.com cut shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. TheStreet raised shares of OceanFirst Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of OceanFirst Financial in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.20.

OceanFirst Financial Stock Performance

NASDAQ:OCFC opened at $15.44 on Monday. OceanFirst Financial has a 12-month low of $12.01 and a 12-month high of $19.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $919.14 million, a PE ratio of 9.03 and a beta of 1.00. The firm has a 50-day moving average price of $15.33 and a 200 day moving average price of $15.40.

Institutional Trading of OceanFirst Financial

A number of institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. bought a new stake in OceanFirst Financial in the 1st quarter valued at about $216,000. Hennessy Advisors Inc. lifted its holdings in shares of OceanFirst Financial by 2.4% during the 1st quarter. Hennessy Advisors Inc. now owns 210,000 shares of the savings and loans company’s stock worth $3,446,000 after acquiring an additional 5,000 shares during the period. Eagle Wealth Strategies LLC lifted its holdings in shares of OceanFirst Financial by 25.1% during the 1st quarter. Eagle Wealth Strategies LLC now owns 68,172 shares of the savings and loans company’s stock worth $1,078,000 after acquiring an additional 13,690 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of OceanFirst Financial by 6.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company’s stock worth $303,000 after acquiring an additional 1,016 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of OceanFirst Financial by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,046,061 shares of the savings and loans company’s stock worth $18,160,000 after acquiring an additional 66,868 shares during the period. Institutional investors own 70.98% of the company’s stock.

About OceanFirst Financial

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.