OceanFirst Financial Corp. (NASDAQ:OCFC) has been given an average recommendation of “Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.83.
Several equities analysts have recently weighed in on OCFC shares. Piper Jaffray reissued a “buy” rating and set a $32.00 price target on shares of OceanFirst Financial in a report on Monday, February 12th. ValuEngine raised OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research raised OceanFirst Financial from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Thursday, February 1st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $37.00 price target on shares of OceanFirst Financial in a report on Friday, December 22nd. Finally, BidaskClub raised OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd.
In related news, Director Steven E. Brady sold 20,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $26.02, for a total value of $520,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Burke sold 1,490 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.73, for a total value of $39,827.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,995 shares of company stock worth $732,065. 7.00% of the stock is owned by insiders.
NASDAQ OCFC opened at $26.75 on Monday. The firm has a market cap of $1,283.68, a PE ratio of 15.74, a PEG ratio of 1.37 and a beta of 0.57. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. OceanFirst Financial has a 1-year low of $24.02 and a 1-year high of $29.46.
OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $49.25 million for the quarter, compared to analysts’ expectations of $50.52 million. OceanFirst Financial had a return on equity of 9.48% and a net margin of 19.67%. analysts forecast that OceanFirst Financial will post 1.95 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was first published by WKRB News and is the sole property of of WKRB News. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.wkrb13.com/2018/04/02/oceanfirst-financial-corp-ocfc-receives-consensus-rating-of-buy-from-brokerages.html.
About OceanFirst Financial
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.
Receive News & Ratings for OceanFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.