OceanFirst Financial Corp. (OCFC) Coverage Initiated by Analysts at Hovde Group

Hovde Group began coverage on shares of OceanFirst Financial Corp. (NASDAQ:OCFC) in a research report report published on Monday. The brokerage issued an outperform rating and a $32.00 price objective on the savings and loans company’s stock.

Several other brokerages have also recently weighed in on OCFC. DA Davidson initiated coverage on OceanFirst Financial Corp. in a research report on Thursday, September 21st. They issued a buy rating and a $31.00 price target for the company. BidaskClub cut OceanFirst Financial Corp. from a sell rating to a strong sell rating in a research report on Monday, August 14th. Sandler O’Neill upgraded OceanFirst Financial Corp. from a hold rating to a buy rating and set a $29.00 price target for the company in a research report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded OceanFirst Financial Corp. from a strong sell rating to a hold rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $30.80.

OceanFirst Financial Corp. (NASDAQ OCFC) opened at 28.06 on Monday. The company’s 50 day moving average price is $25.77 and its 200-day moving average price is $26.79. OceanFirst Financial Corp. has a 12-month low of $19.02 and a 12-month high of $30.70. The firm has a market capitalization of $901.34 million, a price-to-earnings ratio of 24.25 and a beta of 0.64.

COPYRIGHT VIOLATION NOTICE: “OceanFirst Financial Corp. (OCFC) Coverage Initiated by Analysts at Hovde Group” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/10/oceanfirst-financial-corp-ocfc-coverage-initiated-by-analysts-at-hovde-group.html.

In related news, Director Steven E. Brady sold 3,825 shares of OceanFirst Financial Corp. stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.89, for a total transaction of $95,204.25. Following the completion of the sale, the director now owns 67,177 shares of the company’s stock, valued at $1,672,035.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Yorkville Capital Management LLC boosted its stake in OceanFirst Financial Corp. by 35.0% during the second quarter. Yorkville Capital Management LLC now owns 15,800 shares of the savings and loans company’s stock valued at $428,000 after buying an additional 4,100 shares during the period. Lord Abbett & CO. LLC boosted its stake in OceanFirst Financial Corp. by 303.8% during the second quarter. Lord Abbett & CO. LLC now owns 299,345 shares of the savings and loans company’s stock valued at $8,118,000 after buying an additional 225,211 shares during the period. California State Teachers Retirement System boosted its stake in OceanFirst Financial Corp. by 10.2% during the second quarter. California State Teachers Retirement System now owns 55,892 shares of the savings and loans company’s stock valued at $1,516,000 after buying an additional 5,188 shares during the period. The Manufacturers Life Insurance Company boosted its stake in OceanFirst Financial Corp. by 22.2% during the second quarter. The Manufacturers Life Insurance Company now owns 24,386 shares of the savings and loans company’s stock valued at $661,000 after buying an additional 4,433 shares during the period. Finally, State Street Corp boost

Several other brokerages have also recently weighed in on OCFC. DA Davidson initiated coverage on OceanFirst Financial Corp. in a research report on Thursday, September 21st. They issued a buy rating and a $31.00 price target for the company. BidaskClub cut OceanFirst Financial Corp. from a sell rating to a strong sell rating in a research report on Monday, August 14th. Sandler O’Neill upgraded OceanFirst Financial Corp. from a hold rating to a buy rating and set a $29.00 price target for the company in a research report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded OceanFirst Financial Corp. from a strong sell rating to a hold rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $30.80.

OceanFirst Financial Corp. (NASDAQ OCFC) opened at 28.06 on Monday. The company’s 50 day moving average price is $25.77 and its 200-day moving average price is $26.79. OceanFirst Financial Corp. has a 12-month low of $19.02 and a 12-month high of $30.70. The firm has a market capitalization of $901.34 million, a price-to-earnings ratio of 24.25 and a beta of 0.64.

COPYRIGHT VIOLATION NOTICE: “OceanFirst Financial Corp. (OCFC) Coverage Initiated by Analysts at Hovde Group” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/10/oceanfirst-financial-corp-ocfc-coverage-initiated-by-analysts-at-hovde-group.html.

In related news, Director Steven E. Brady sold 3,825 shares of OceanFirst Financial Corp. stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.89, for a total transaction of $95,204.25. Following the completion of the sale, the director now owns 67,177 shares of the company’s stock, valued at $1,672,035.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Yorkville Capital Management LLC boosted its stake in OceanFirst Financial Corp. by 35.0% during the second quarter. Yorkville Capital Management LLC now owns 15,800 shares of the savings and loans company’s stock valued at $428,000 after buying an additional 4,100 shares during the period. Lord Abbett & CO. LLC boosted its stake in OceanFirst Financial Corp. by 303.8% during the second quarter. Lord Abbett & CO. LLC now owns 299,345 shares of the savings and loans company’s stock valued at $8,118,000 after buying an additional 225,211 shares during the period. California State Teachers Retirement System boosted its stake in OceanFirst Financial Corp. by 10.2% during the second quarter. California State Teachers Retirement System now owns 55,892 shares of the savings and loans company’s stock valued at $1,516,000 after buying an additional 5,188 shares during the period. The Manufacturers Life Insurance Company boosted its stake in OceanFirst Financial Corp. by 22.2% during the second quarter. The Manufacturers Life Insurance Company now owns 24,386 shares of the savings and loans company’s stock valued at $661,000 after buying an additional 4,433 shares during the period. Finally, State Street Corp boosted its stake in OceanFirst Financial Corp. by 23.8% during the second quarter. State Street Corp now owns 581,074 shares of the savings and loans company’s stock valued at $15,758,000 after buying an additional 111,891 shares during the period. 67.78% of the stock is owned by institutional investors.

OceanFirst Financial Corp. 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.

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