OceanFirst Financial Corp. (OCFC) Director Sells $39,827.70 in Stock

OceanFirst Financial Corp. (NASDAQ:OCFC) Director Joseph J. Burke sold 1,490 shares of OceanFirst Financial stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $26.73, for a total value of $39,827.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of OceanFirst Financial Corp. (NASDAQ OCFC) traded up $0.29 during mid-day trading on Wednesday, hitting $26.41. The company’s stock had a trading volume of 152,747 shares, compared to its average volume of 200,572. OceanFirst Financial Corp. has a one year low of $24.02 and a one year high of $30.65. The stock has a market cap of $850.08, a P/E ratio of 15.35, a P/E/G ratio of 1.37 and a beta of 0.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.55.

OceanFirst Financial (NASDAQ:OCFC) last announced its 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. OceanFirst Financial had a return on equity of 9.54% and a net margin of 19.67%. The company had revenue of $49.25 million for the quarter, compared to the consensus estimate of $50.52 million. research analysts expect that OceanFirst Financial Corp. will post 1.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. OceanFirst Financial’s dividend payout ratio (DPR) is presently 46.88%.

Several institutional investors have recently bought and sold shares of OCFC. Schwab Charles Investment Management Inc. boosted its stake in shares of OceanFirst Financial by 10.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,614 shares of the savings and loans company’s stock valued at $2,973,000 after buying an additional 10,570 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of OceanFirst Financial by 26.1% in the second quarter. Wells Fargo & Company MN now owns 122,432 shares of the savings and loans company’s stock valued at $3,320,000 after buying an additional 25,321 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of OceanFirst Financial by 38.9% in the second quarter. Alliancebernstein L.P. now owns 43,200 shares of the savings and loans company’s stock valued at $1,172,000 after buying an additional 12,100 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of OceanFirst Financial by 27.8% in the second quarter. Teachers Advisors LLC now owns 56,534 shares of the savings and loans company’s stock valued at $1,533,000 after buying an additional 12,299 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of OceanFirst Financial by 16.7% in the second quarter. TIAA CREF Investment Management LLC now owns 82,726 shares of the savings and loans company’s stock valued at $2,244,000 after buying an additional 11,831 shares in the last quarter. Hedge funds and other institutional investors own 71.11% of the company’s stock.

Several research analysts have weighed in on OCFC shares. BidaskClub downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Thursday, November 2nd. ValuEngine upgraded OceanFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $37.00 target price on shares of OceanFirst Financial in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.83.

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OceanFirst Financial Company Profile

OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.

Insider Buying and Selling by Quarter for OceanFirst Financial (NASDAQ:OCFC)

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