Keefe, Bruyette & Woods Reaffirms Outperform Rating for OceanFirst Financial (NASDAQ:OCFC)

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

A number of 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 company an “outperform” rating in a research note on Monday, January 22nd. TheStreet raised shares of OceanFirst Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. StockNews.com downgraded shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of OceanFirst Financial in a report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.20.

OceanFirst Financial Stock Up 3.1 %

OceanFirst Financial stock opened at $15.44 on Monday. OceanFirst Financial has a 1-year low of $12.01 and a 1-year high of $19.58. The firm has a market capitalization of $919.14 million, a price-to-earnings ratio of 9.03 and a beta of 1.00. The firm’s fifty day moving average price is $15.33 and its two-hundred day moving average price is $15.40. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.64.

Institutional Trading of OceanFirst Financial

A number of large investors have recently added to or reduced their stakes in the stock. CRA Financial Services LLC increased its holdings in OceanFirst Financial by 2.8% during the fourth quarter. CRA Financial Services LLC now owns 25,314 shares of the savings and loans company’s stock worth $439,000 after buying an additional 696 shares during the last quarter. Strs Ohio increased its holdings in OceanFirst Financial by 1.9% during the fourth quarter. Strs Ohio now owns 42,300 shares of the savings and loans company’s stock worth $734,000 after buying an additional 800 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in OceanFirst Financial by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company’s stock worth $303,000 after buying an additional 1,016 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of OceanFirst Financial by 19.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock worth $139,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of OceanFirst Financial by 1.5% in the third quarter. Swiss National Bank now owns 130,733 shares of the savings and loans company’s stock worth $1,892,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other 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.