OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 40.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,680 shares of the savings and loans company's stock after selling 28,824 shares during the period. Jane Street Group LLC owned 0.07% of OceanFirst Financial worth $773,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OCFC. Sterling Capital Management LLC increased its stake in OceanFirst Financial by 807.9% in the fourth 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 purchased a new position in shares of OceanFirst Financial during the 4th quarter worth about $57,000. Venturi Wealth Management LLC acquired a new stake in shares of OceanFirst Financial in the fourth quarter worth approximately $65,000. Global Retirement Partners LLC grew its holdings in OceanFirst Financial by 1,009.6% in 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 purchasing an additional 5,048 shares during the period. Finally, EMC Capital Management increased its position in OceanFirst Financial by 6,001.3% during the fourth quarter. EMC Capital Management now owns 9,152 shares of the savings and loans company's stock worth $166,000 after purchasing an additional 9,002 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Hovde Group decreased their price target on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, January 27th. Raymond James cut their target price on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on 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. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.67.

OceanFirst Financial Trading Up 1.1%

OCFC traded up $0.19 during trading on Tuesday, hitting $16.81. 216,054 shares of the company's stock were exchanged, compared to its average volume of 302,630. OceanFirst Financial Corp. has a 1 year low of $14.03 and a 1 year high of $21.87. The stock has a 50 day moving average price of $16.48 and a 200 day moving average price of $17.87. The firm has a market cap of $981.44 million, a P/E ratio of 10.19 and a beta of 0.99. 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 posted its earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. The business had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.66 million. As a group, analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Monday, May 5th. OceanFirst Financial's payout ratio is 52.29%.

OceanFirst Financial 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.