Squarepoint Ops LLC Buys 16,643 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

Squarepoint Ops LLC increased its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 66.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,873 shares of the savings and loans company's stock after acquiring an additional 16,643 shares during the period. Squarepoint Ops LLC owned approximately 0.07% of OceanFirst Financial worth $758,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in OceanFirst Financial by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,228,902 shares of the savings and loans company's stock valued at $58,442,000 after acquiring an additional 53,476 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of OceanFirst Financial by 4.2% during the fourth quarter. Invesco Ltd. now owns 1,675,259 shares of the savings and loans company's stock valued at $30,322,000 after purchasing an additional 67,010 shares in the last quarter. American Century Companies Inc. boosted its position in shares of OceanFirst Financial by 11.2% during the fourth quarter. American Century Companies Inc. now owns 1,208,800 shares of the savings and loans company's stock valued at $21,879,000 after buying an additional 121,923 shares during the last quarter. Systematic Financial Management LP increased its holdings in OceanFirst Financial by 5.2% in the 4th quarter. Systematic Financial Management LP now owns 964,646 shares of the savings and loans company's stock worth $17,460,000 after buying an additional 47,561 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in OceanFirst Financial by 4.1% in the 4th quarter. Royce & Associates LP now owns 763,840 shares of the savings and loans company's stock worth $13,826,000 after buying an additional 30,399 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on OCFC shares. Raymond James dropped their price target on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.67.

OceanFirst Financial Stock Performance

Shares of OCFC traded up $0.04 on Thursday, reaching $16.88. The company's stock had a trading volume of 145,645 shares, compared to its average volume of 298,060. The stock's 50 day simple moving average is $16.44 and its two-hundred day simple moving average is $17.73. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market capitalization of $985.52 million, a P/E ratio of 10.23 and a beta of 0.99. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-month high of $21.87.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share (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. Research analysts forecast that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Dividend Announcement

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 4.74%. The ex-dividend date of this dividend was Monday, May 5th. OceanFirst Financial's dividend payout ratio (DPR) is currently 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.