OceanFirst Financial Corp. $OCFC Shares Bought 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 grew its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 90.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,813 shares of the savings and loans company's stock after purchasing an additional 14,649 shares during the quarter. Quantbot Technologies LP owned approximately 0.05% of OceanFirst Financial worth $524,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OCFC. Quarry LP acquired a new stake in OceanFirst Financial during the fourth quarter worth approximately $57,000. Aigen Investment Management LP acquired a new stake in OceanFirst Financial during the first quarter worth approximately $175,000. Cary Street Partners Financial LLC acquired a new stake in OceanFirst Financial during the fourth quarter worth approximately $183,000. PharVision Advisers LLC acquired a new stake in OceanFirst Financial during the fourth quarter worth approximately $192,000. Finally, Captrust Financial Advisors boosted its position in OceanFirst Financial by 8.1% during the fourth 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. 70.98% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Trading Down 0.5%

NASDAQ OCFC traded down $0.10 during mid-day trading on Thursday, reaching $18.43. 224,572 shares of the stock were exchanged, compared to its average volume of 305,452. OceanFirst Financial Corp. has a 1-year low of $14.29 and a 1-year high of $21.87. The business's fifty day simple moving average is $17.72 and its 200 day simple moving average is $17.17. The stock has a market capitalization of $1.06 billion, a PE ratio of 13.07 and a beta of 1.04. 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 (NASDAQ:OCFC - Get Free Report) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). OceanFirst Financial had a return on equity of 5.22% and a net margin of 12.89%.The firm had revenue of $99.37 million for the quarter, compared to analyst estimates of $101.26 million. On average, research analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

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

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.