Shares of OceanFirst Financial (NASDAQ:OCFC) Sees Large Outflow of Money

OceanFirst Financial (NASDAQ:OCFC) : Net money flow in OceanFirst Financial (NASDAQ:OCFC) was negative ($2.55 million) and the inflow of money on uptick was $0.09 million, whereas, the outflow of money on downticks amounted to $2.64 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.03. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $2.6 million. The money flow in block trades was negative ($2.6). OceanFirst Financial (NASDAQ:OCFC) gained $0.22 cent during the day and reached $17.9, a gain of 1.24% over the previous day.


In an insider trading activity,The director of Oceanfirst Financial Corp, Farris Jack M. sold 150 shares at $17.2 on March 1, 2016. The Insider selling transaction had a total value worth of $2,580. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 11.1% of OceanFirst Financial shares according to the proxy statements. Institutional Investors own 65.07% of OceanFirst Financial shares.

The company shares have dropped -5.61% from its 1 Year high price. On Dec 29, 2015, the shares registered one year high at $21.00 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $18.21 and the 200 Day Moving Average price is recorded at $18.09. OceanFirst Financial (NASDAQ:OCFC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.82 and $17.57 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.97, notching a gain of 1.64% for the day. The total traded volume was 208,539 . The stock had closed at $17.68 on the previous day.

OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Banks 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. The Bank also invests in other types of loans, including residential construction and consumer loans. In addition, the Bank invests in mortgage-backed securities (MBS), securities issued by the United States Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations. The Bank receives income from fees and service charges on loan and deposit products, wealth management services, Bankcard services and the sale of alternative investment products, such as mutual funds, annuities and life insurance.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.