MetLife Investment Management LLC Grows Stake in OceanFirst Financial Corp. $OCFC

Key Points

• MetLife Investment Management LLC has significantly increased its stake in OceanFirst Financial Corp. by 1,226.5%, now owning approximately 0.80% of the company, worth about $7.9 million.
• OceanFirst Financial reported a quarterly loss with earnings per share of $0.31, missing analysts' estimates of $0.33, and had a revenue of $99.37 million compared to expectations of $101.26 million.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized yield of 4.3%, with a current dividend payout ratio of 56.74%.

MetLife Investment Management LLC increased its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 1,226.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,258 shares of the savings and loans company's stock after buying an additional 429,259 shares during the quarter. MetLife Investment Management LLC owned about 0.80% of OceanFirst Financial worth $7,897,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of OceanFirst Financial during the 4th quarter valued at about $57,000. Aigen Investment Management LP acquired a new position in shares of OceanFirst Financial during the 1st quarter worth about $175,000. Cary Street Partners Financial LLC acquired a new position in shares of OceanFirst Financial during the 4th quarter worth about $183,000. PharVision Advisers LLC purchased a new stake in OceanFirst Financial during the 4th quarter valued at about $192,000. Finally, Captrust Financial Advisors grew its stake in OceanFirst Financial by 8.1% during the 4th quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company's stock valued at $212,000 after acquiring an additional 882 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Stock Performance

OceanFirst Financial stock opened at $18.53 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 13.14 and a beta of 1.04. The firm has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $17.17. OceanFirst Financial Corp. has a 1-year low of $14.29 and a 1-year high of $21.87.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $99.37 million for the quarter, compared to analysts' expectations of $101.26 million. OceanFirst Financial had a return on equity of 5.22% and a net margin of 12.89%. On average, analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, August 4th. OceanFirst Financial's dividend payout ratio (DPR) is presently 56.74%.

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.

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