Dark Forest Capital Management LP purchased a new stake in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,684 shares of the savings and loans company's stock, valued at approximately $356,000.
A number of other institutional investors also recently modified their holdings of OCFC. Jane Street Group LLC boosted its stake in shares of OceanFirst Financial by 0.7% during the 3rd quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company's stock worth $1,329,000 after buying an additional 494 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in 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 increased its position in shares of OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock worth $27,000 after purchasing an additional 1,337 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of OceanFirst Financial by 807.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock worth $33,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of OceanFirst Financial by 2.0% in the 4th quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock valued at $1,706,000 after buying an additional 1,863 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.
OceanFirst Financial Stock Performance
Shares of NASDAQ:OCFC traded up $0.11 during trading on Thursday, reaching $16.67. 290,736 shares of the stock were exchanged, compared to its average volume of 295,411. The stock has a 50-day moving average price of $16.55 and a 200-day moving average price of $18.08. The firm has a market cap of $973.21 million, a PE ratio of 10.10 and a beta of 0.94. OceanFirst Financial Corp. has a 12 month low of $14.03 and a 12 month high of $21.87. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued 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 business had revenue of $97.91 million during the quarter, compared to analysts' expectations of $95.66 million. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Research analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.
OceanFirst Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Monday, May 5th. OceanFirst Financial's payout ratio is currently 52.29%.
Wall Street Analyst Weigh In
OCFC has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a research report on Monday. Stephens reaffirmed an "equal weight" rating and issued a $22.00 target price on shares of OceanFirst Financial in a report on Friday, January 24th. Raymond James reduced their price target 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, 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 research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, OceanFirst Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.
View Our Latest Stock Report on OCFC
OceanFirst Financial Profile
(
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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