Brian Schaeffer Sells 3,500 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) Stock

OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) EVP Brian Schaeffer sold 3,500 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.49, for a total value of $54,215.00. Following the completion of the transaction, the executive vice president now directly owns 41,868 shares in the company, valued at $648,535.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

OceanFirst Financial Stock Performance

Shares of OCFC stock traded up $0.07 during trading on Wednesday, reaching $15.58. The company had a trading volume of 158,535 shares, compared to its average volume of 312,327. The firm's 50 day simple moving average is $15.32 and its two-hundred day simple moving average is $15.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.00 and a quick ratio of 0.99. OceanFirst Financial Corp. has a one year low of $12.01 and a one year high of $19.58. The company has a market capitalization of $914.70 million, a PE ratio of 9.11 and a beta of 1.01.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Friday, May 3rd. OceanFirst Financial's payout ratio is 46.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. CRA Financial Services LLC increased its position in OceanFirst Financial by 2.8% in the 4th quarter. CRA Financial Services LLC now owns 25,314 shares of the savings and loans company's stock worth $439,000 after buying an additional 696 shares during the period. Strs Ohio increased its position in OceanFirst Financial by 1.9% in the 4th quarter. Strs Ohio now owns 42,300 shares of the savings and loans company's stock worth $734,000 after buying an additional 800 shares during the period. PNC Financial Services Group Inc. increased its position in OceanFirst Financial by 6.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company's stock worth $303,000 after buying an additional 1,016 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in OceanFirst Financial by 19.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company's stock worth $139,000 after buying an additional 1,550 shares during the period. Finally, Swiss National Bank increased its position in OceanFirst Financial by 1.5% in the 3rd quarter. Swiss National Bank now owns 130,733 shares of the savings and loans company's stock worth $1,892,000 after buying an additional 1,900 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

OCFC has been the subject of a number of analyst reports. Stephens reiterated an "equal weight" rating and issued a $20.00 target price on shares of OceanFirst Financial in a research note on Friday, April 19th. StockNews.com upgraded shares of OceanFirst Financial from a "sell" rating to a "hold" rating in a report on Monday, April 22nd. Raymond James cut their target price on OceanFirst Financial from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $19.00 price target (down previously from $22.00) on shares of OceanFirst Financial in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $18.20.

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.