Somewhat Positive News Coverage Somewhat Unlikely to Impact OceanFirst Financial (OCFC) Share Price

News headlines about OceanFirst Financial (NASDAQ:OCFC) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. OceanFirst Financial earned a news sentiment score of 0.22 on Accern’s scale. Accern also assigned news headlines about the savings and loans company an impact score of 46.3116475105049 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Several research analysts have recently issued reports on the stock. BidaskClub raised shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Hovde Group started coverage on shares of OceanFirst Financial in a research note on Monday, October 9th. They issued an “outperform” rating and a $32.00 target price on the stock. Zacks Investment Research lowered shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. DA Davidson started coverage on shares of OceanFirst Financial in a research note on Thursday, September 21st. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $31.00 price objective on shares of OceanFirst Financial in a research note on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $31.83.

Shares of OceanFirst Financial (NASDAQ:OCFC) traded up $0.34 during mid-day trading on Friday, reaching $27.97. 116,883 shares of the company’s stock traded hands, compared to its average volume of 148,977. 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 has a 52-week low of $24.02 and a 52-week high of $30.65. The firm has a market cap of $910.03, a P/E ratio of 23.31, a P/E/G ratio of 1.55 and a beta of 0.60.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. OceanFirst Financial had a net margin of 18.59% and a return on equity of 8.87%. The company had revenue of $50.42 million for the quarter, compared to the consensus estimate of $50.41 million. sell-side analysts forecast that OceanFirst Financial will post 1.7 earnings per share for the current year.

In related news, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the transaction, the director now directly owns 72,562 shares in the company, valued at $2,006,339.30. The sale was disclosed in a filing with the SEC, which is available through this link. 7.00% of the stock is currently owned by insiders.

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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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