OceanFirst Financial Corp. (NASDAQ:OCFC) 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 trading hands.
A number of brokerages have weighed in on OCFC. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. FIG Partners restated an “outperform” rating on shares of Sterling Bancorp in a research note on Monday, April 29th. Boenning Scattergood restated a “hold” rating on shares of OceanFirst Financial in a research note on Monday, April 29th. Finally, BidaskClub lowered Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.50.
The stock’s 50 day moving average is $24.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. The firm 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.
Several institutional investors and hedge funds have recently modified their holdings of OCFC. Amundi Pioneer Asset Management Inc. bought a new stake in shares of OceanFirst Financial in the 4th quarter worth approximately $108,000. SG Americas Securities LLC bought a new stake in shares of OceanFirst Financial in the 1st quarter worth approximately $191,000. Legal & General Group Plc lifted its holdings in shares of OceanFirst Financial by 12.7% in the 4th quarter. Legal & General Group Plc now owns 8,286 shares of the savings and loans company’s stock worth $187,000 after purchasing an additional 934 shares during the last quarter. Sciencast Management LP bought a new stake in shares of OceanFirst Financial in the 1st quarter worth approximately $228,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of OceanFirst Financial by 451.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,888 shares of the savings and loans company’s stock worth $238,000 after purchasing an additional 8,095 shares during the last quarter. Institutional investors own 68.81% of the company’s stock.
About OceanFirst Financial (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.
Further Reading: Book Value Per Share – BVPS
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