Hsbc Holdings PLC Has $455,000 Position in OceanFirst Financial Corp. (NASDAQ:OCFC)

Hsbc Holdings PLC decreased its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 41.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 25,538 shares of the savings and loans company's stock after selling 17,766 shares during the period. Hsbc Holdings PLC's holdings in OceanFirst Financial were worth $455,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in OCFC. O Shaughnessy Asset Management LLC grew its holdings 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 last quarter. JPMorgan Chase & Co. grew its holdings in OceanFirst Financial by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company's stock valued at $23,074,000 after buying an additional 157,711 shares during the last quarter. Barclays PLC grew its holdings 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 last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in OceanFirst Financial by 28.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,519 shares of the savings and loans company's stock valued at $534,000 after buying an additional 6,496 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in OceanFirst Financial by 1,036.4% in the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock valued at $27,000 after buying an additional 1,337 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on OCFC. Raymond James decreased their price target 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 shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Stephens reissued an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. Finally, Hovde Group decreased their price objective on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, January 27th. 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 stock. According to data from MarketBeat.com, OceanFirst Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

OceanFirst Financial Stock Performance

Shares of NASDAQ:OCFC traded up $0.23 during trading on Tuesday, hitting $17.71. 38,991 shares of the stock were exchanged, compared to its average volume of 297,698. OceanFirst Financial Corp. has a 1-year low of $14.03 and a 1-year high of $21.87. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.73 and a beta of 0.99. The company's fifty day simple moving average is $16.43 and its 200-day simple moving average is $17.99. 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 announced its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.35 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%. Sell-side analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be given a $0.20 dividend. The ex-dividend date is Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a yield of 4.52%. OceanFirst Financial's dividend payout ratio (DPR) is presently 52.29%.

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.