OceanFirst Financial (NASDAQ:OCFC) Share Price Crosses Above Fifty Day Moving Average of $24.49

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.



OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, April 25th. The savings and loans company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $73.90 million during the quarter, compared to analyst estimates of $73.12 million. OceanFirst Financial had a return on equity of 9.47% and a net margin of 26.92%. Sell-side analysts predict that OceanFirst Financial Corp. will post 2.19 EPS for the current fiscal year.

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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