OceanFirst Financial price target lowered to $20 from $22 at Raymond James

Raymond James lowered the firm’s price target on OceanFirst Financial to $20 from $22 and keeps an Outperform rating on the shares following the company’s Q1 report. Though EPS beat forecasts on benign credit trends, a more durable net interest margin, and well-controlled expenses, significantly softer balance sheet growth trends weighed on the fundamental outlook, the analyst tells investors.