GW&K Investment Management LLC Has $24.21 Million Stake in OceanFirst Financial Corp. (NASDAQ:OCFC)

GW&K Investment Management LLC lessened its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,423,527 shares of the savings and loans company's stock after selling 41,835 shares during the quarter. GW&K Investment Management LLC owned about 2.44% of OceanFirst Financial worth $24,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in OceanFirst Financial by 3.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company's stock worth $352,000 after buying an additional 716 shares in the last quarter. Captrust Financial Advisors boosted its stake in OceanFirst Financial by 8.1% in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 purchasing an additional 1,141 shares during the period. Sterling Capital Management LLC boosted 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 valued at $33,000 after buying an additional 1,640 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of OceanFirst Financial by 19.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,319 shares of the savings and loans company's stock valued at $259,000 after buying an additional 2,376 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OCFC. Raymond James Financial decreased their target price 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. 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 report on Monday, April 28th. Four investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.67.

OceanFirst Financial Price Performance

Shares of OceanFirst Financial stock traded down $0.65 during trading on Friday, hitting $17.25. 106,532 shares of the company's stock traded hands, compared to its average volume of 302,102. The company has a market cap of $1.01 billion, a PE ratio of 11.25 and a beta of 0.99. OceanFirst Financial Corp. has a twelve month low of $14.29 and a twelve 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 firm's fifty day moving average price is $17.61 and its 200 day moving average price is $17.36.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). OceanFirst Financial had a return on equity of 5.38% and a net margin of 13.59%. The business had revenue of $99.37 million for the quarter, compared to the consensus estimate of $101.26 million. Analysts forecast that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Company 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.