Deutsche Bank AG Boosts Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Deutsche Bank AG grew its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 59.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,277 shares of the savings and loans company's stock after buying an additional 16,110 shares during the quarter. Deutsche Bank AG owned 0.07% of OceanFirst Financial worth $783,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of OCFC. Sterling Capital Management LLC raised 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 worth $33,000 after buying an additional 1,640 shares during the last quarter. Quarry LP purchased a new position in OceanFirst Financial during the 4th quarter worth $57,000. Venturi Wealth Management LLC purchased a new position in OceanFirst Financial during the 4th quarter worth $65,000. Global Retirement Partners LLC raised its position in OceanFirst Financial by 1,009.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company's stock worth $100,000 after buying an additional 5,048 shares during the last quarter. Finally, EMC Capital Management raised its position in OceanFirst Financial by 6,001.3% during the 4th quarter. EMC Capital Management now owns 9,152 shares of the savings and loans company's stock worth $166,000 after buying an additional 9,002 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

OceanFirst Financial Price Performance

Shares of OCFC traded up $0.14 during trading hours on Friday, reaching $16.94. The company had a trading volume of 310,593 shares, compared to its average volume of 298,156. The firm has a 50 day simple moving average of $16.45 and a 200-day simple moving average of $17.76. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $989.02 million, a price-to-earnings ratio of 10.27 and a beta of 0.99. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-month high of $21.87.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $97.91 million during the quarter, compared to the consensus estimate 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 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.80 annualized dividend and a yield of 4.72%. OceanFirst Financial's dividend payout ratio (DPR) is currently 52.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OCFC shares. Keefe, Bruyette & Woods cut their price objective on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Raymond James cut their price target 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. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, OceanFirst Financial currently has a consensus rating of "Moderate Buy" and an average price target 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.