OceanFirst Financial (NASDAQ:OCFC) Given New $21.00 Price Target at Raymond James

OceanFirst Financial (NASDAQ:OCFC) had its target price cut by stock analysts at Raymond James from $24.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the savings and loans company’s stock. Raymond James’ price target points to a potential upside of 23.20% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of OceanFirst Financial in a research note on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and set a $22.00 price target on shares of OceanFirst Financial in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Hovde Group dropped their price objective on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.00.

OceanFirst Financial Trading Up 0.3 %

OCFC traded up $0.05 on Wednesday, hitting $17.05. The company had a trading volume of 39,093 shares, compared to its average volume of 288,169. The company’s fifty day moving average price is $17.68 and its 200 day moving average price is $18.45. OceanFirst Financial has a 1 year low of $14.03 and a 1 year high of $21.87. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The firm has a market cap of $998.10 million, a P/E ratio of 10.33 and a beta of 1.03.

OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. As a group, equities analysts expect that OceanFirst Financial will post 1.6 earnings per share for the current year.

Institutional Trading of OceanFirst Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its position in shares of OceanFirst Financial by 0.7% in the 3rd quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company’s stock valued at $1,329,000 after buying an additional 494 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in OceanFirst Financial by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company’s stock valued at $352,000 after acquiring an additional 716 shares in the last quarter. Captrust Financial Advisors boosted its stake in OceanFirst Financial by 8.1% in the fourth quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company’s stock valued at $212,000 after acquiring an additional 882 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of OceanFirst Financial by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,732 shares of the savings and loans company’s stock worth $592,000 after purchasing an additional 1,141 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of OceanFirst Financial by 1,036.4% during the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 1,337 shares in 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.