OceanFirst Financial Corp. (OCFC) Director Steven E. Brady Sells 2,800 Shares

OceanFirst Financial Corp. (NASDAQ:OCFC) Director Steven E. Brady sold 2,800 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total value of $77,420.00. Following the sale, the director now owns 72,562 shares of the company’s stock, valued at approximately $2,006,339.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

OceanFirst Financial Corp. (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $50.42 million during the quarter, compared to analysts’ expectations of $50.41 million. OceanFirst Financial Corp. had a net margin of 18.59% and a return on equity of 8.93%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.16%. OceanFirst Financial Corp.’s dividend payout ratio (DPR) is currently 50.00%.

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A number of analysts have weighed in on the company. Zacks Investment Research upgraded OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Thursday. Piper Jaffray Companies restated a “buy” rating and set a $31.00 target price on shares of OceanFirst Financial Corp. in a report on Friday, October 27th. BidaskClub lowered OceanFirst Financial Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. DA Davidson assumed coverage on OceanFirst Financial Corp. in a report on Thursday, September 21st. They set a “buy” rating and a $31.00 target price for the company. Finally, Sandler O’Neill upgraded OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. OceanFirst Financial Corp. presently has a consensus rating of “Buy” and a consensus price target of $31.00.

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of OceanFirst Financial Corp. by 9.5% during the 2nd quarter. Northern Trust Corp now owns 668,839 shares of the savings and loans company’s stock worth $18,139,000 after purchasing an additional 58,097 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of OceanFirst Financial Corp. by 14.7% during the 1st quarter. Teachers Advisors LLC now owns 44,235 shares of the savings and loans company’s stock worth $1,246,000 after purchasing an additional 5,673 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of OceanFirst Financial Corp. by 13.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 51,673 shares of the savings and loans company’s stock worth $1,456,000 after purchasing an additional 5,932 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of OceanFirst Financial Corp. by 5.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 99,044 shares of the savings and loans company’s stock worth $2,791,000 after purchasing an additional 5,130 shares during the last quarter. Finally, Credit Suisse AG lifted its position in shares of OceanFirst Financial Corp. by 25.5% during the 1st quarter. Credit Suisse AG now owns 22,606 shares of the savings and loans company’s stock worth $637,000 after purchasing an additional 4,594 shares during the last quarter. 67.45% of the stock is owned by institutional investors and hedge funds.

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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