Two Sigma Investments LP Has $4.89 Million Stake in OceanFirst Financial Corp. (NASDAQ:OCFC)

Two Sigma Investments LP lowered its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,233 shares of the savings and loans company's stock after selling 55,422 shares during the period. Two Sigma Investments LP owned 0.46% of OceanFirst Financial worth $4,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Systematic Financial Management LP increased its holdings in shares of OceanFirst Financial by 5.2% during the fourth quarter. Systematic Financial Management LP now owns 964,646 shares of the savings and loans company's stock worth $17,460,000 after purchasing an additional 47,561 shares during the period. ProShare Advisors LLC raised its holdings in OceanFirst Financial by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 16,202 shares of the savings and loans company's stock valued at $293,000 after acquiring an additional 5,332 shares in the last quarter. Millennium Management LLC lifted its position in shares of OceanFirst Financial by 121.7% during the 4th quarter. Millennium Management LLC now owns 160,837 shares of the savings and loans company's stock valued at $2,911,000 after acquiring an additional 88,292 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of OceanFirst Financial by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,732 shares of the savings and loans company's stock worth $592,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of OceanFirst Financial by 518.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 103,961 shares of the savings and loans company's stock worth $1,882,000 after purchasing an additional 87,152 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

OceanFirst Financial Trading Up 0.8%

Shares of OceanFirst Financial stock traded up $0.14 during trading on Friday, hitting $16.94. The company's stock had a trading volume of 310,593 shares, compared to its average volume of 298,156. The stock has a market cap of $989.02 million, a price-to-earnings ratio of 10.27 and a beta of 0.99. OceanFirst Financial Corp. has a 52 week low of $14.03 and a 52 week high of $21.87. The stock has a 50-day moving average price of $16.45 and a two-hundred day moving average price of $17.76. 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 results on Thursday, April 24th. The savings and loans company reported $0.35 EPS for the quarter, meeting analysts' consensus estimates of $0.35. The firm had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.66 million. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. Equities research analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently announced 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 was Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.72%. OceanFirst Financial's payout ratio is presently 52.29%.

Analysts Set New Price Targets

OCFC has been the subject of several recent analyst reports. Raymond James cut their price objective on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

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.