OceanFirst Financial (NASDAQ:OCFC) Stock Price Crosses Above Two Hundred Day Moving Average of $15.77

OceanFirst Financial Corp. (NASDAQ:OCFC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.77 and traded as high as $17.50. OceanFirst Financial shares last traded at $17.26, with a volume of 159,778 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 price target (down previously from $19.00) on shares of OceanFirst Financial in a research note on Friday, May 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

OceanFirst Financial Stock Down 1.0 %

The firm has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $15.78. The company has a market capitalization of $1.00 billion, a P/E ratio of 9.99 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.74.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). OceanFirst Financial had a return on equity of 5.85% and a net margin of 14.78%. The business had revenue of $170.41 million during the quarter, compared to the consensus estimate of $94.93 million. During the same quarter last year, the company earned $0.46 earnings per share. On average, equities research analysts expect that OceanFirst Financial Corp. will post 1.58 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, August 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.68%. OceanFirst Financial’s payout ratio is presently 46.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. grew its holdings in shares of OceanFirst Financial by 54.8% during the second quarter. Point72 Asset Management L.P. now owns 16,255 shares of the savings and loans company’s stock worth $258,000 after buying an additional 5,755 shares in the last quarter. Creative Planning grew its holdings in shares of OceanFirst Financial by 254.6% during the second quarter. Creative Planning now owns 40,214 shares of the savings and loans company’s stock worth $639,000 after buying an additional 28,874 shares in the last quarter. Algert Global LLC grew its holdings in shares of OceanFirst Financial by 12.6% during the second quarter. Algert Global LLC now owns 48,292 shares of the savings and loans company’s stock worth $767,000 after buying an additional 5,388 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of OceanFirst Financial by 24.4% during the second quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock worth $12,828,000 after buying an additional 158,590 shares in the last quarter. Finally, Caxton Associates LP boosted its position in OceanFirst Financial by 40.6% during the second quarter. Caxton Associates LP now owns 18,589 shares of the savings and loans company’s stock valued at $295,000 after purchasing an additional 5,370 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

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.