Wellington Management Group LLP reduced its position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 7.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 999,525 shares of the savings and loans company's stock after selling 83,330 shares during the quarter. Wellington Management Group LLP owned about 1.71% of OceanFirst Financial worth $18,091,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in OceanFirst Financial by 27.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 140,665 shares of the savings and loans company's stock valued at $2,546,000 after buying an additional 30,373 shares during the period. Barclays PLC increased its stake in OceanFirst Financial by 13.0% in the 3rd quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock valued at $5,566,000 after buying an additional 34,458 shares during the period. Deutsche Bank AG increased its stake in 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 buying an additional 16,110 shares during the period. Millennium Management LLC increased its stake in 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 buying an additional 88,292 shares during the period. Finally, Systematic Financial Management LP increased its stake in 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 buying an additional 47,561 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.
OceanFirst Financial Stock Down 0.2%
Shares of OceanFirst Financial stock traded down $0.04 on Thursday, hitting $16.80. 289,399 shares of the company's stock traded hands, compared to its average volume of 298,758. The stock has a market cap of $980.85 million, a P/E ratio of 10.18 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm's 50-day moving average is $16.43 and its 200 day moving average is $17.70. OceanFirst Financial Corp. has a 52-week low of $14.10 and a 52-week high of $21.87.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The business 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 analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.
OceanFirst Financial Announces Dividend
The company also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, May 5th. OceanFirst Financial's dividend payout ratio is currently 52.29%.
Analyst Ratings Changes
OCFC has been the topic of several recent research reports. Raymond James decreased their price objective on shares of 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 decreased their price target on OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, OceanFirst Financial currently has an average rating of "Moderate Buy" and an average price target of $20.67.
Check Out Our Latest Report on OCFC
About OceanFirst Financial
(
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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