Angelo Catania Sells 1,505 Shares of OceanFirst Financial Corp. (OCFC) Stock

OceanFirst Financial Corp. (NASDAQ:OCFC) Director Angelo Catania sold 1,505 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $26.47, for a total transaction of $39,837.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) opened at $26.34 on Wednesday. OceanFirst Financial Corp. has a 1-year low of $24.02 and a 1-year high of $30.65. The firm has a market cap of $868.00, a PE ratio of 15.67, a PEG ratio of 1.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.94 and a quick ratio of 0.94.

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 analysts’ consensus estimates of $0.45. OceanFirst Financial had a net margin of 19.67% and a return on equity of 9.54%. The business had revenue of $49.25 million for the quarter, compared to analysts’ expectations of $50.52 million. sell-side analysts predict that OceanFirst Financial Corp. will post 1.9 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, February 2nd. OceanFirst Financial’s dividend payout ratio is currently 46.88%.

A number of research analysts have commented on OCFC shares. Piper Jaffray Companies reissued a “buy” rating and set a $31.00 target price on shares of OceanFirst Financial in a research report on Friday, October 27th. ValuEngine upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, November 2nd. BidaskClub cut shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $37.00 price target on shares of OceanFirst Financial in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. OceanFirst Financial currently has a consensus rating of “Buy” and a consensus price target of $31.83.

Several large investors have recently added to or reduced their stakes in OCFC. OppenheimerFunds Inc. boosted its holdings in shares of OceanFirst Financial by 66.4% in the 4th quarter. OppenheimerFunds Inc. now owns 815,555 shares of the savings and loans company’s stock valued at $21,408,000 after buying an additional 325,381 shares in the last quarter. Millennium Management LLC boosted its stake in OceanFirst Financial by 313.9% in the 4th quarter. Millennium Management LLC now owns 314,323 shares of the savings and loans company’s stock worth $8,251,000 after purchasing an additional 238,373 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in OceanFirst Financial in the 2nd quarter worth approximately $6,326,000. Lord Abbett & CO. LLC boosted its stake in OceanFirst Financial by 303.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 299,345 shares of the savings and loans company’s stock worth $8,118,000 after purchasing an additional 225,211 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in OceanFirst Financial by 13.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,540,454 shares of the savings and loans company’s stock worth $40,437,000 after purchasing an additional 178,363 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.

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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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