Mackenzie Financial Corp Acquires Shares of 23,877 OceanFirst Financial Corp. (NASDAQ:OCFC)

Mackenzie Financial Corp acquired a new position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,877 shares of the savings and loans company's stock, valued at approximately $432,000.

A number of other large investors have also recently made changes to their positions in OCFC. Sterling Capital Management LLC increased its holdings 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. Quarry LP bought a new stake in shares of OceanFirst Financial during the 4th quarter valued at $57,000. Venturi Wealth Management LLC purchased a new position in shares of OceanFirst Financial during the 4th quarter valued at $65,000. Global Retirement Partners LLC boosted its holdings in OceanFirst Financial by 1,009.6% in 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 period. Finally, Cary Street Partners Financial LLC purchased a new stake in OceanFirst Financial in the 4th quarter worth $183,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OCFC shares. Raymond James lowered their price objective 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. Keefe, Bruyette & Woods cut their price target on OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Four research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.67.

OceanFirst Financial Price Performance

OCFC stock traded down $0.04 during trading on Thursday, hitting $16.80. 289,399 shares of the company's stock traded hands, compared to its average volume of 298,577. OceanFirst Financial Corp. has a 52 week low of $14.03 and a 52 week high of $21.87. The stock has a market capitalization of $980.85 million, a price-to-earnings ratio of 10.18 and a beta of 0.99. The business has a fifty day simple moving average of $16.44 and a 200 day simple moving average of $17.73. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01.

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 EPS for the quarter, meeting analysts' consensus estimates of $0.35. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. The firm had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.66 million. As a group, research analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend 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.