Extremely important positive changes in investment behavior have recently occurred for OceanFirst Financial Corp. (NASDAQ: OCFC): its shorter term price trend turned up, its longer term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, OCFC is expected to continue to be a modest Value Builder.
OceanFirst Financial has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. OceanFirst Financial has a neutral Power Rating of 50 but a very high Appreciation Score of 88, with the Positive Value Trend Rating the result.
Recent Price Action
OceanFirst Financial Corp. (NASDAQ: OCFC) stock closed at $15.89 on 6/28/24 after a large increase of 4.5%. Moreover, this advance was accompanied by exceptionally high trading volume at 315% of normal. The stock has performed in line with the market over the last nine months and has risen 7.4% during the last week.
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