OceanFirst Financial (NASDAQ:OCFC – Get Free Report) had its price target dropped by analysts at Raymond James from $22.00 to $20.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the savings and loans company’s stock. Raymond James’ price objective would indicate a potential upside of 29.53% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. TheStreet raised shares of OceanFirst Financial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Stephens reissued an “equal weight” rating and issued a $20.00 price target on shares of OceanFirst Financial in a report on Friday, April 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 price target (down from $22.00) on shares of OceanFirst Financial in a report on Monday. Finally, StockNews.com downgraded shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, OceanFirst Financial has a consensus rating of “Hold” and a consensus target price of $18.20.
Read Our Latest Report on OceanFirst Financial
OceanFirst Financial Stock Performance
Institutional Trading of OceanFirst Financial
Several institutional investors and hedge funds have recently bought and sold shares of OCFC. Quantbot Technologies LP acquired a new position in shares of OceanFirst Financial in the 3rd quarter valued at about $34,000. International Assets Investment Management LLC increased its holdings in shares of OceanFirst Financial by 1,240.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock valued at $60,000 after purchasing an additional 3,213 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of OceanFirst Financial by 19.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock valued at $139,000 after purchasing an additional 1,550 shares during the period. Chapin Davis Inc. acquired a new position in shares of OceanFirst Financial in the 4th quarter valued at about $207,000. Finally, SG Americas Securities LLC acquired a new position in shares of OceanFirst Financial in the 3rd quarter valued at about $176,000. Institutional investors and hedge funds own 70.98% of the company’s stock.
About OceanFirst Financial
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.
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