SG Americas Securities LLC bought a new position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 37,151 shares of the savings and loans company's stock, valued at approximately $632,000. SG Americas Securities LLC owned 0.06% of OceanFirst Financial as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in OceanFirst Financial by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company's stock worth $352,000 after purchasing an additional 716 shares in the last quarter. Captrust Financial Advisors grew its holdings in 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 valued at $212,000 after purchasing an additional 882 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OceanFirst Financial by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,732 shares of the savings and loans company's stock worth $592,000 after acquiring an additional 1,141 shares in the last quarter. Sterling Capital Management LLC grew its stake in OceanFirst Financial by 807.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock worth $33,000 after acquiring an additional 1,640 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in OceanFirst Financial by 2.0% in the 4th quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock worth $1,706,000 after acquiring an additional 1,863 shares in the last quarter. Institutional investors own 70.98% of the company's stock.
OceanFirst Financial Price Performance
NASDAQ OCFC opened at $16.65 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.00. The firm's 50 day moving average price is $16.77 and its 200-day moving average price is $17.41. OceanFirst Financial Corp. has a 52-week low of $14.29 and a 52-week high of $21.87. The company has a market cap of $972.03 million, a PE ratio of 10.88 and a beta of 0.99.
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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. OceanFirst Financial had a net margin of 13.59% and a return on equity of 5.38%. The firm had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.66 million. Sell-side analysts forecast that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.
OceanFirst Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.80%. OceanFirst Financial's dividend payout ratio is presently 52.29%.
Analyst Ratings Changes
OCFC has been the topic of a number of research analyst reports. Raymond James Financial dropped their target price on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, OceanFirst Financial currently has an average rating of "Moderate Buy" and a consensus price target of $20.67.
Check Out Our Latest Research 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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