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Hovde rates OceanFirst 'outperform'

Initiation

* Hovde Group now covers Toms River, N.J.-based OceanFirst Financial Corp.

Analyst Brian Zabora rated the stock "outperform," with a price target of $32. The analyst commented on OceanFirst's better-than-peer net interest margin and cost of deposits, on top of the acquisitive company's ability to retain 93% to 100% of deposits from its past three deals.

His EPS estimates for the company are $1.73 for 2017, $1.83 for 2018 and $2.10 for 2019.

Coverage resumed

* Keefe Bruyette & Woods on Oct. 8 resumed coverage of San Diego-based BofI Holding Inc.

In the report "If You Build It, Customers Will Come," Michael Perito said BofI's yet-to-be-launched universal digital bank could turn out to be "one of the more sophisticated" platforms of its kind in the U.S., and that ongoing litigation against the company seems "largely without merit." That said, there also seems to be no near-term resolution.

The analyst has a "market perform" rating on the stock and a price target of $31.

Coverage dropped

* And FIG Partners dropped coverage of Los Angeles-based CU Bancorp in advance of its acquisition by PacWest Bancorp. The deal is scheduled to close Oct. 20.

Analyst Timothy Coffey has an "outperform" rating on the stock and a $42.25 price target.