OceanFirst Financial Corp. (NASDAQ:OCFC) Director Sells $30,045.00 in Stock

OceanFirst Financial Corp. (NASDAQ:OCFC) Director Joseph M. Jr. Murphy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.03, for a total transaction of $30,045.00. Following the transaction, the director now directly owns 177,417 shares of the company’s stock, valued at approximately $3,553,662.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

OceanFirst Financial Trading Down 0.3 %

Shares of OceanFirst Financial stock opened at $20.72 on Thursday. OceanFirst Financial Corp. has a 1 year low of $13.41 and a 1 year high of $21.34. The firm has a market cap of $1.21 billion, a PE ratio of 11.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The company has a 50 day simple moving average of $18.33 and a two-hundred day simple moving average of $16.83.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $96.90 million during the quarter, compared to analyst estimates of $92.79 million. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. Analysts expect that OceanFirst Financial Corp. will post 1.59 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.86%. OceanFirst Financial’s payout ratio is 45.71%.

Institutional Investors Weigh In On OceanFirst Financial

A number of hedge funds have recently made changes to their positions in OCFC. Innealta Capital LLC bought a new stake in shares of OceanFirst Financial in the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of OceanFirst Financial in the 3rd quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of OceanFirst Financial in the 1st quarter worth approximately $39,000. Meeder Asset Management Inc. purchased a new position in shares of OceanFirst Financial in the second quarter worth $62,000. Finally, EMC Capital Management purchased a new position in shares of OceanFirst Financial in the first quarter worth $150,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OCFC. Hovde Group boosted their price objective on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research note on Friday, September 20th. Piper Sandler set a $17.00 target price on shares of OceanFirst Financial and gave the company a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.30.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.