Nuveen Asset Management LLC Decreases Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Nuveen Asset Management LLC reduced its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 773,483 shares of the savings and loans company's stock after selling 100,340 shares during the period. Nuveen Asset Management LLC owned 1.32% of OceanFirst Financial worth $14,000,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OCFC. Envestnet Asset Management Inc. lifted its holdings in OceanFirst Financial by 3.8% in 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 during the period. Captrust Financial Advisors lifted its holdings in OceanFirst Financial by 8.1% in the fourth quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company's stock worth $212,000 after buying an additional 882 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in OceanFirst Financial by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,732 shares of the savings and loans company's stock worth $592,000 after buying an additional 1,141 shares during the period. Sterling Capital Management LLC lifted its holdings 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 worth $33,000 after buying an additional 1,640 shares during the period. Finally, Rhumbline Advisers lifted its holdings in OceanFirst Financial by 2.0% in the fourth quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock worth $1,706,000 after buying an additional 1,863 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

OceanFirst Financial Stock Up 0.5%

NASDAQ OCFC traded up $0.09 during mid-day trading on Thursday, reaching $16.73. The stock had a trading volume of 76,351 shares, compared to its average volume of 301,815. OceanFirst Financial Corp. has a 1 year low of $14.03 and a 1 year high of $21.87. The stock has a market cap of $976.76 million, a PE ratio of 10.14 and a beta of 0.99. The company has a fifty day moving average price of $16.46 and a 200 day moving average price of $17.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00.

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, hitting the consensus estimate of $0.35. The company had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. On average, research analysts expect that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a yield of 4.78%. OceanFirst Financial's dividend payout ratio (DPR) is 52.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OCFC. Keefe, Bruyette & Woods lowered their target price on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Raymond James lowered 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 report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.67.

About OceanFirst Financial

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.