OceanFirst Financial Corp. (NASDAQ:OCFC) Holdings Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 321.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,275 shares of the savings and loans company's stock after acquiring an additional 50,535 shares during the period. Cubist Systematic Strategies LLC owned about 0.11% of OceanFirst Financial worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Captrust Financial Advisors raised its position in shares of OceanFirst Financial by 8.1% during the 4th quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company's stock worth $212,000 after purchasing an additional 882 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in OceanFirst Financial in the 4th quarter worth approximately $183,000. Balyasny Asset Management L.P. grew its stake in OceanFirst Financial by 64.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 75,238 shares of the savings and loans company's stock worth $1,362,000 after acquiring an additional 29,450 shares during the period. Basswood Capital Management L.L.C. purchased a new stake in OceanFirst Financial in the 4th quarter worth approximately $2,695,000. Finally, Ameriprise Financial Inc. grew its stake in shares of OceanFirst Financial by 3.6% during the 4th quarter. Ameriprise Financial Inc. now owns 700,247 shares of the savings and loans company's stock valued at $12,674,000 after buying an additional 24,634 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Stock Down 0.7%

Shares of OceanFirst Financial stock traded down $0.12 during trading on Monday, reaching $17.43. The company had a trading volume of 311,572 shares, compared to its average volume of 301,510. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 10.56 and a beta of 0.99. The firm's fifty day moving average is $16.50 and its 200-day moving average is $17.96. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. OceanFirst Financial Corp. has a fifty-two week low of $14.03 and a fifty-two week high of $21.87.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.66 million. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. On average, analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, May 5th. OceanFirst Financial's dividend payout ratio (DPR) is 52.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OCFC. Raymond James lowered their price objective on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Stephens reaffirmed an "equal weight" rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Friday, January 24th. Hovde Group decreased their price target on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, OceanFirst Financial presently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

OceanFirst Financial Profile

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.