Oconee Federal Financial (NASDAQ:OFED) Rating Lowered to C+ at TheStreet

TheStreet downgraded shares of Oconee Federal Financial (NASDAQ:OFED) from a b- rating to a c+ rating in a research report report published on Monday morning, TheStreetRatingsTable reports.

OFED stock opened at $23.09 on Monday. Oconee Federal Financial has a 52-week low of $22.26 and a 52-week high of $29.60. The company has a market cap of $132.70 million, a PE ratio of 37.23 and a beta of 0.21. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a $0.10 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.40 dividend on an annualized basis and a yield of 1.73%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp raised its holdings in Oconee Federal Financial by 6.2% in the 1st quarter. Northern Trust Corp now owns 10,402 shares of the savings and loans company’s stock worth $271,000 after acquiring an additional 606 shares during the last quarter. Deutsche Bank AG raised its holdings in Oconee Federal Financial by 27.0% in the 4th quarter. Deutsche Bank AG now owns 2,370 shares of the savings and loans company’s stock worth $58,000 after acquiring an additional 504 shares during the last quarter. American International Group Inc. raised its holdings in Oconee Federal Financial by 89.7% in the 4th quarter. American International Group Inc. now owns 1,193 shares of the savings and loans company’s stock worth $30,000 after acquiring an additional 564 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Oconee Federal Financial by 48.3% in the 4th quarter. BlackRock Inc. now owns 75,418 shares of the savings and loans company’s stock worth $1,878,000 after acquiring an additional 24,570 shares during the last quarter. Institutional investors own 4.13% of the company’s stock.

About Oconee Federal Financial

Oconee Federal Financial Corp. operates as a holding company for Oconee Federal Savings and Loan Association that provides various banking products and services in the Oconee County area of northwestern South Carolina and the northeast area of Georgia. The company's deposit products include demand, NOW, money market, savings, certificates of deposit, and individual retirement accounts.

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