Zacks Investment Research cut shares of OceanFirst Financial Corp. (NASDAQ:OCFC) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. “

Other equities research analysts also recently issued reports about the company. DA Davidson initiated coverage on OceanFirst Financial Corp. in a research report on Thursday, September 21st. They set a buy rating and a $31.00 price target on the stock. Sandler O’Neill raised OceanFirst Financial Corp. from a hold rating to a buy rating and set a $29.00 price objective for the company in a report on Wednesday, September 20th. Finally, BidaskClub downgraded OceanFirst Financial Corp. from a hold rating to a sell rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. OceanFirst Financial Corp. has an average rating of Hold and a consensus target price of $30.50.

OceanFirst Financial Corp. (NASDAQ OCFC) traded up 0.07% during mid-day trading on Tuesday, reaching $27.62. The company’s stock had a trading volume of 57,996 shares. The company has a market capitalization of $887.21 million, a price-to-earnings ratio of 23.87 and a beta of 0.64. OceanFirst Financial Corp. has a one year low of $19.02 and a one year high of $30.70. The stock has a 50-day moving average price of $25.48 and a 200-day moving average price of $26.79.

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In other news, Director Steven E. Brady sold 3,825 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.89, for a total transaction of $95,204.25. Following the sale, the director now directly owns 67,177 shares of the company’s stock, valued at approximately $1,672,035.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in OceanFirst Financial Corp. by 80.5% during the second quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock worth $102,000 after purchasing an additional 1,684 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in OceanFirst Financial Corp. by 2,366.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after purchasing an additional 3,786 shares during the period. Legal & General Group Plc grew its holdings in OceanFirst Financial Corp. by 6.8% in the first quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 418 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in OceanFirst Financial Corp. in the first quarter valued at approximately $228,000. Finally, Voya Investment Management LLC grew its holdings in OceanFirst Financial Corp. by 13.3% in the second quarter. Voya Investment Management LLC now owns 14,308 shares of the savings and loans company’s stock valued at $388,000 after purchasing an additional 1,683 shares during the period. 67.78% of the stock is owned by institutional investors.

About OceanFirst Financial Corp.

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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