Stephens Reiterates a Hold Rating on Oceanfirst Financial (OCFC)

By Jason Carr

In a report released yesterday, Matthew Breese from Stephens reiterated a Hold rating on Oceanfirst Financial (OCFCResearch Report), with a price target of $25.50. The company’s shares closed last Monday at $24.08.

According to TipRanks.com, Breese is a 4-star analyst with an average return of 7.1% and a 66.9% success rate. Breese covers the Financial sector, focusing on stocks such as Dime Community Bancshares, People’s United Financial, and Valley National Bancorp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oceanfirst Financial with a $26.17 average price target.

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Based on Oceanfirst Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $24.97 million. In comparison, last year the company had a net profit of $24.07 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OCFC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

OceanFirst Financial Corp. is a savings and loan holding company, which engages in the provision of financial services. Its subsidiary, OceanFirst Bank, offers commercial and residential financing solutions, wealth management, and deposit services. The company is headquartered in Toms River, NJ.