Invesco Ltd. Increases Stock Position in OceanFirst Financial Corp. (NASDAQ:OCFC)

Invesco Ltd. lifted its position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,675,259 shares of the savings and loans company's stock after buying an additional 67,010 shares during the period. Invesco Ltd. owned approximately 2.87% of OceanFirst Financial worth $30,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of OceanFirst Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,421,373 shares of the savings and loans company's stock valued at $26,428,000 after purchasing an additional 27,579 shares during the last quarter. JPMorgan Chase & Co. grew its position in OceanFirst Financial by 14.6% during the third 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 period. American Century Companies Inc. increased its holdings in OceanFirst Financial by 11.2% during the fourth quarter. American Century Companies Inc. now owns 1,208,800 shares of the savings and loans company's stock valued at $21,879,000 after buying an additional 121,923 shares during the last quarter. Royce & Associates LP raised its position in OceanFirst Financial by 4.1% in the fourth quarter. Royce & Associates LP now owns 763,840 shares of the savings and loans company's stock worth $13,826,000 after acquiring an additional 30,399 shares during the period. Finally, Boston Partners boosted its stake in shares of OceanFirst Financial by 2.8% during the 4th quarter. Boston Partners now owns 733,190 shares of the savings and loans company's stock worth $13,400,000 after acquiring an additional 20,249 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

OceanFirst Financial Price Performance

OCFC stock traded up $0.35 during trading on Wednesday, reaching $16.57. The company's stock had a trading volume of 24,645 shares, compared to its average volume of 293,823. The company's fifty day moving average is $16.74 and its 200-day moving average is $18.14. 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 $967.37 million, a P/E ratio of 10.04 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last released its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. On average, research analysts expect that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on OCFC. Stephens restated an "equal weight" rating and issued a $22.00 price objective on shares of OceanFirst Financial in a research note on Friday, January 24th. Hovde Group reduced their price target on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Finally, Raymond James decreased their price objective on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Four 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

OceanFirst Financial Company 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.