OceanFirst Financial Corp. $OCFC Holdings Boosted by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in OceanFirst Financial Corp. by 90.6%, owning approximately 30,813 shares worth $524,000 as of its latest SEC filing.
• OceanFirst Financial reported $0.31 earnings per share for the last quarter, missing consensus estimates and achieving a revenue of $99.37 million, below analysts' expectations.
• The company declared a quarterly dividend of $0.20 per share, representing a 4.4% yield with a payout ratio of 56.74%.

Quantbot Technologies LP boosted its stake in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 90.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,813 shares of the savings and loans company's stock after buying an additional 14,649 shares during the quarter. Quantbot Technologies LP owned approximately 0.05% of OceanFirst Financial worth $524,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in shares of OceanFirst Financial by 3.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company's stock worth $352,000 after purchasing an additional 716 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of OceanFirst Financial by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,228,902 shares of the savings and loans company's stock worth $58,442,000 after purchasing an additional 53,476 shares during the period. MetLife Investment Management LLC lifted its stake in shares of OceanFirst Financial by 7.3% during the 4th quarter. MetLife Investment Management LLC now owns 34,999 shares of the savings and loans company's stock worth $633,000 after purchasing an additional 2,395 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of OceanFirst Financial by 66.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,525 shares of the savings and loans company's stock worth $263,000 after purchasing an additional 5,822 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of OceanFirst Financial during the 4th quarter worth $356,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

OceanFirst Financial Stock Down 0.2%

Shares of NASDAQ:OCFC traded down $0.04 during midday trading on Friday, hitting $18.39. 205,782 shares of the company's stock traded hands, compared to its average volume of 290,218. The firm's fifty day moving average price is $17.75 and its two-hundred day moving average price is $17.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.00 and a current ratio of 1.01. OceanFirst Financial Corp. has a twelve month low of $14.29 and a twelve month high of $21.87. The company has a market cap of $1.06 billion, a PE ratio of 13.04 and a beta of 1.07.

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

OceanFirst Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, August 4th. This represents a $0.80 annualized dividend and a yield of 4.4%. OceanFirst Financial's payout ratio is currently 56.74%.

OceanFirst Financial Company 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.