Mackenzie Financial Corp Makes New $432,000 Investment in 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 its most recent filing with the Securities and Exchange Commission. The fund acquired 23,877 shares of the savings and loans company's stock, valued at approximately $432,000.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC boosted 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 buying an additional 1,640 shares during the last quarter. Quarry LP acquired a new stake in OceanFirst Financial in the 4th quarter worth about $57,000. Venturi Wealth Management LLC acquired a new position in shares of OceanFirst Financial during the 4th quarter worth approximately $65,000. Global Retirement Partners LLC boosted its holdings in shares of 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 purchasing an additional 5,048 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of OceanFirst Financial in the fourth quarter valued at approximately $183,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Price Performance

Shares of OCFC stock traded up $0.49 during trading hours on Friday, reaching $17.29. The company had a trading volume of 260,497 shares, compared to its average volume of 298,966. OceanFirst Financial Corp. has a 12-month low of $14.10 and a 12-month high of $21.87. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.48 and a beta of 0.99. The stock has a fifty day moving average of $16.43 and a 200-day moving average of $17.68. 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 released its quarterly earnings data 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 return on equity of 5.75% and a net margin of 14.45%. The firm had revenue of $97.91 million for the quarter, compared to analysts' expectations of $95.66 million. On average, equities analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Monday, May 5th. OceanFirst Financial's dividend payout ratio (DPR) is 52.29%.

Analyst Ratings Changes

A number of research firms have recently issued reports on OCFC. Raymond James dropped their price target on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped 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 equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, OceanFirst Financial currently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

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.