37,151 Shares in OceanFirst Financial Corp. (NASDAQ:OCFC) Acquired by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 37,151 shares of the savings and loans company's stock, valued at approximately $632,000. SG Americas Securities LLC owned approximately 0.06% of OceanFirst Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC grew its position in 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 valued at $33,000 after purchasing an additional 1,640 shares during the last quarter. Quarry LP bought a new position in shares of OceanFirst Financial in the fourth quarter worth approximately $57,000. Venturi Wealth Management LLC bought a new position in shares of OceanFirst Financial in the fourth quarter worth approximately $65,000. Global Retirement Partners LLC grew its holdings in shares of OceanFirst Financial by 1,009.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company's stock valued at $100,000 after buying an additional 5,048 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of OceanFirst Financial during the fourth quarter valued at approximately $183,000. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Stock Performance

OceanFirst Financial stock traded down $0.19 during midday trading on Wednesday, reaching $17.17. 288,195 shares of the company traded hands, compared to its average volume of 297,285. OceanFirst Financial Corp. has a 12 month low of $14.29 and a 12 month high of $21.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day moving average of $16.87 and a two-hundred day moving average of $17.37. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 11.22 and a beta of 0.99.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, meeting analysts' consensus estimates of $0.35. The business had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.66 million. OceanFirst Financial had a net margin of 13.59% and a return on equity of 5.38%. As a group, research analysts predict that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, May 5th. OceanFirst Financial's dividend payout ratio (DPR) is presently 52.29%.

Analyst Ratings Changes

A number of brokerages recently weighed in on OCFC. Raymond James Financial decreased 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 report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

About OceanFirst Financial

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.