OceanFirst Financial Corp (NASDAQ: OCFC) is 20.05% higher on its value in year-to-date trading and has touched a low of $13.41 and a high of $21.87 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OCFC stock was last observed hovering at around $21.15 in the last trading session, with the day’s loss setting it -0.31%.
Currently trading at $20.84, the stock is 3.77% and 10.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.2 million and changing -1.47% at the moment leaves the stock 25.20% off its SMA200. OCFC registered 52.90% gain for a year compared to 6-month gain of 42.45%. The firm has a 50-day simple moving average (SMA 50) of $18.8914 and a 200-day simple moving average (SMA200) of $16.61595.
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The stock witnessed a 14.44% loss in the last 1 month and extending the period to 3 months gives it a 17.54%, and is 4.30% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.00% over the week and 3.35% over the month.
OceanFirst Financial Corp (OCFC) has around 920 employees, a market worth around $1.22B and $692.77M in sales. Current P/E ratio is 11.99 and Fwd P/E is 12.91. Profit margin for the company is 14.70%. Distance from 52-week low is 55.41% and -4.71% from its 52-week high. The company has generated returns on investments over the last 12 months (3.37%).
The EPS is expected to shrink by -11.00% this year
273.0 institutions hold shares in OceanFirst Financial Corp (OCFC), with institutional investors hold 76.25% of the company’s shares. The shares outstanding are 59.45M, and float is at 56.62M with Short Float at 0.90%. Institutions hold 73.77% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 8.3 million shares valued at $131.96 million. The investor’s holdings represent 14.126 of the OCFC Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 3.53 million shares valued at $56.12 million to account for 6.0081 of the shares outstanding. The other top investors are DIMENSIONAL FUND ADVISORS LP which holds 3.18 million shares representing 5.4154 and valued at over $50.59 million, while STATE STREET CORP holds 2.9487 of the shares totaling 1.73 million with a market value of $27.55 million.
OceanFirst Financial Corp (OCFC) Insider Activity
The most recent transaction is an insider sale by Murphy Joseph M. Jr., the company’s Director. SEC filings show that Murphy Joseph M. Jr. sold 1,500 shares of the company’s common stock on Nov 11 ’24 at a price of $20.03 per share for a total of $30045.0. Following the sale, the insider now owns 0.18 million shares.
OceanFirst Financial Corp disclosed in a document filed with the SEC on May 02 ’24 that Schaeffer Brian (EVP & CIO, OceanFirst Bank) sold a total of 3,500 shares of the company’s common stock. The trade occurred on May 02 ’24 and was made at $15.49 per share for $54215.0. Following the transaction, the insider now directly holds 41868.0 shares of the OCFC stock.
Still, SEC filings show that on Mar 05 ’24, ESTEP MICHELE B (EVP & CAO, OceanFirst Bank) disposed off 6,867 shares at an average price of $14.94 for $0.1 million. The insider now directly holds 155,456 shares of OceanFirst Financial Corp (OCFC).
