Vanguard Group Inc. Has $59.81 Million Holdings in OceanFirst Financial Corp. $OCFC

Key Points

• Vanguard Group Inc. increased its stake in OceanFirst Financial Corp. by 1.8%, now owning 6.02% of the company, which is valued at approximately $59.8 million.
• Analysts have set a consensus price target of $20.67 for OceanFirst Financial, with ratings including one Strong Buy, one Buy, and four Holds.
• The company recently disclosed a quarterly dividend of $0.20, reflecting an annualized yield of 4.4%, with a payout ratio of 56.74%.

Vanguard Group Inc. grew its position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,516,177 shares of the savings and loans company's stock after acquiring an additional 61,515 shares during the quarter. Vanguard Group Inc. owned 6.02% of OceanFirst Financial worth $59,810,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Quarry LP bought a new position in shares of OceanFirst Financial in the fourth quarter valued at approximately $57,000. Cary Street Partners Financial LLC bought a new stake in shares of OceanFirst Financial during the fourth quarter worth approximately $183,000. PharVision Advisers LLC bought a new stake in shares of OceanFirst Financial during the fourth quarter worth approximately $192,000. Captrust Financial Advisors boosted 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 worth $212,000 after acquiring an additional 882 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in OceanFirst Financial during the 4th quarter worth approximately $213,000. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Stock Down 0.2%

OCFC traded down $0.04 during trading on Friday, reaching $18.39. The company had a trading volume of 205,782 shares, compared to its average volume of 301,276. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.00. OceanFirst Financial Corp. has a 12 month low of $14.29 and a 12 month high of $21.87. The business's fifty day moving average price is $17.75 and its 200 day moving average price is $17.17. The company has a market cap of $1.06 billion, a P/E ratio of 13.04 and a beta of 1.04.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $99.37 million during the quarter, compared to the consensus estimate of $101.26 million. OceanFirst Financial had a net margin of 12.89% and a return on equity of 5.22%. Equities analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $0.80 annualized dividend and a dividend yield of 4.4%. OceanFirst Financial's dividend payout ratio (DPR) is currently 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.