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Fintel reports that on April 21, 2023, Stephens & Co. reiterated coverage of OceanFirst Financial (NASDAQ:OCFC) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 57.25% Upside
As of April 6, 2023, the average one-year price target for OceanFirst Financial is $25.58. The forecasts range from a low of $22.22 to a high of $28.35. The average price target represents an increase of 57.25% from its latest reported closing price of $16.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for OceanFirst Financial is $422MM, a decrease of 3.09%. The projected annual non-GAAP EPS is $2.66.
What is the Fund Sentiment?
There are 460 funds or institutions reporting positions in OceanFirst Financial. This is an increase of 14 owner(s) or 3.14% in the last quarter. Average portfolio weight of all funds dedicated to OCFC is 0.20%, an increase of 9.67%. Total shares owned by institutions increased in the last three months by 1.49% to 53,463K shares. The put/call ratio of OCFC is 1.25, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 2,352K shares representing 4.00% ownership of the company. In it’s prior filing, the firm reported owning 1,628K shares, representing an increase of 30.79%. The firm increased its portfolio allocation in OCFC by 51.23% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,778K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 1,642K shares, representing an increase of 7.65%. The firm increased its portfolio allocation in OCFC by 14.00% over the last quarter.
GW&K Investment Management holds 1,693K shares representing 2.88% ownership of the company. In it’s prior filing, the firm reported owning 1,712K shares, representing a decrease of 1.09%. The firm increased its portfolio allocation in OCFC by 54.51% over the last quarter.
Hood River Capital Management holds 1,547K shares representing 2.63% ownership of the company. In it’s prior filing, the firm reported owning 1,508K shares, representing an increase of 2.53%. The firm increased its portfolio allocation in OCFC by 11.15% over the last quarter.
IWM – iShares Russell 2000 ETF holds 1,387K shares representing 2.35% ownership of the company. In it’s prior filing, the firm reported owning 1,272K shares, representing an increase of 8.28%. The firm increased its portfolio allocation in OCFC by 12.57% over the last quarter.
OceanFirst Financial Background Information
(This description is provided by the company.)
OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $10.2 billion regional bank operating throughout New Jersey, metropolitan Philadelphia and metropolitan New York City. OceanFirst Bank delivers commercial and residential financing solutions, trust and asset management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.
See all OceanFirst Financial regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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