AQR Capital Management LLC reduced its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 754,478 shares of the savings and loans company's stock after selling 29,064 shares during the quarter. AQR Capital Management LLC owned about 1.29% of OceanFirst Financial worth $13,656,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OCFC. Envestnet Asset Management Inc. lifted its holdings in shares of OceanFirst Financial by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company's stock valued at $352,000 after purchasing an additional 716 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of OceanFirst Financial by 1,036.4% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock valued at $27,000 after purchasing an additional 1,337 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of OceanFirst Financial by 807.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock valued at $33,000 after purchasing an additional 1,640 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of OceanFirst Financial by 2.0% in the fourth quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock valued at $1,706,000 after purchasing an additional 1,863 shares in the last quarter. Finally, Bailard Inc. lifted its holdings in shares of OceanFirst Financial by 5.2% in the fourth quarter. Bailard Inc. now owns 44,371 shares of the savings and loans company's stock valued at $803,000 after purchasing an additional 2,200 shares in the last quarter. 70.98% of the stock is owned by institutional investors.
OceanFirst Financial Price Performance
Shares of OCFC traded down $0.06 on Friday, hitting $16.64. The company's stock had a trading volume of 235,792 shares, compared to its average volume of 298,251. The company has a market capitalization of $971.51 million, a PE ratio of 10.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. OceanFirst Financial Corp. has a fifty-two week low of $14.03 and a fifty-two week high of $21.87. The company has a 50 day moving average price of $16.42 and a 200 day moving average price of $17.99.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its earnings results on Thursday, April 24th. The savings and loans company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. On average, research analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.
OceanFirst Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Monday, May 5th. OceanFirst Financial's dividend payout ratio is 52.29%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on OCFC. Keefe, Bruyette & Woods cut their price objective on OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Hovde Group cut their price objective on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, January 27th. Raymond James cut their price objective on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Finally, Stephens reiterated an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.67.
Get Our Latest Report on OCFC
About OceanFirst Financial
(
Free Report)
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.
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