OceanFirst Financial (NASDAQ:OCFC) Stock Passes Above 50 Day Moving Average of $24.49

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OceanFirst Financial Corp. (NASDAQ:OCFC)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $24.49 and traded as high as $25.39. OceanFirst Financial shares last traded at $25.34, with a volume of 2,602 shares traded.

Several research analysts recently issued reports on OCFC shares. FIG Partners restated an “outperform” rating on shares of Sterling Bancorp in a research report on Monday, April 29th. BidaskClub downgraded Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Boenning Scattergood restated a “hold” rating on shares of OceanFirst Financial in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. OceanFirst Financial currently has a consensus rating of “Hold” and an average target price of $27.50.

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.29 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.15 and a beta of 0.74. The firm has a 50-day moving average of $24.51.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, April 25th. The savings and loans company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The company had revenue of $73.90 million during the quarter, compared to the consensus estimate of $73.12 million. OceanFirst Financial had a return on equity of 9.47% and a net margin of 26.92%. On average, equities research analysts anticipate that OceanFirst Financial Corp. will post 2.19 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of OCFC. BlackRock Inc. raised its holdings in OceanFirst Financial by 6.2% in the 4th quarter. BlackRock Inc. now owns 3,463,135 shares of the savings and loans company’s stock valued at $77,955,000 after acquiring an additional 201,750 shares during the last quarter. Pwmco LLC raised its holdings in OceanFirst Financial by 275.1% in the 1st quarter. Pwmco LLC now owns 251,800 shares of the savings and loans company’s stock valued at $6,058,000 after acquiring an additional 184,663 shares during the last quarter. Victory Capital Management Inc. raised its holdings in OceanFirst Financial by 13.9% in the 1st quarter. Victory Capital Management Inc. now owns 1,335,721 shares of the savings and loans company’s stock valued at $32,137,000 after acquiring an additional 163,327 shares during the last quarter. Martingale Asset Management L P raised its holdings in OceanFirst Financial by 182.1% in the 1st quarter. Martingale Asset Management L P now owns 213,017 shares of the savings and loans company’s stock valued at $5,126,000 after acquiring an additional 137,517 shares during the last quarter. Finally, Kennedy Capital Management Inc. raised its holdings in OceanFirst Financial by 35.9% in the 1st quarter. Kennedy Capital Management Inc. now owns 487,346 shares of the savings and loans company’s stock valued at $11,726,000 after acquiring an additional 128,616 shares during the last quarter. Institutional investors own 68.81% of the company’s stock.

OceanFirst Financial Company Profile (NASDAQ:OCFC)

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

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