As previously reported, Boenning & Scattergood analyst Erik Zwick downgraded OceanFirst Financial to Neutral from Outperform after the company issued a press release indicating a late filing and extension with the SEC for the company's 10-K driven by an internal control issue that management designated as a material weakness. While he said his downgrade does not reflect a deterioration in the company's financial outlook, Zwick believes investor sentiment will be negatively impacted by the company's disclosure and the stock could be range-bound until remediation is complete.