UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,860 shares of the savings and loans company's stock after buying an additional 17,513 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of OceanFirst Financial worth $2,369,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in OceanFirst Financial by 27.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 140,665 shares of the savings and loans company's stock worth $2,546,000 after acquiring an additional 30,373 shares in the last quarter. Barclays PLC increased its position in shares of OceanFirst Financial by 13.0% during the third quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock worth $5,566,000 after purchasing an additional 34,458 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of OceanFirst Financial by 59.3% in the 4th quarter. Deutsche Bank AG now owns 43,277 shares of the savings and loans company's stock valued at $783,000 after purchasing an additional 16,110 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of OceanFirst Financial by 121.7% in 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 purchasing an additional 88,292 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of 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 valued at $17,460,000 after purchasing an additional 47,561 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.
OceanFirst Financial Stock Performance
OceanFirst Financial stock traded up $0.14 during mid-day trading on Tuesday, reaching $17.50. 225,370 shares of the company were exchanged, compared to its average volume of 298,307. The firm's 50-day simple moving average is $16.48 and its two-hundred day simple moving average is $17.62. OceanFirst Financial Corp. has a twelve month low of $14.10 and a twelve month high of $21.87. The firm has a market cap of $1.02 billion, a PE ratio of 10.61 and a beta of 0.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. Equities analysts predict that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.
OceanFirst Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 5th. OceanFirst Financial's payout ratio is 52.29%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Raymond James cut their price target on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut 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 investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.67.
Read Our Latest Stock Analysis on OceanFirst Financial
OceanFirst Financial Company Profile
(
Free Report)
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.
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