Eagle Wealth Strategies LLC Buys Shares of 54,482 OceanFirst Financial Corp. (NASDAQ:OCFC)

Eagle Wealth Strategies LLC acquired a new stake in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 54,482 shares of the savings and loans company's stock, valued at approximately $946,000. OceanFirst Financial accounts for 0.6% of Eagle Wealth Strategies LLC's holdings, making the stock its 21st biggest holding. Eagle Wealth Strategies LLC owned approximately 0.09% of OceanFirst Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in OceanFirst Financial during the 3rd quarter worth approximately $34,000. International Assets Investment Management LLC raised its stake in shares of OceanFirst Financial by 1,240.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company's stock valued at $60,000 after acquiring an additional 3,213 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in OceanFirst Financial by 19.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company's stock valued at $139,000 after purchasing an additional 1,550 shares during the period. SG Americas Securities LLC acquired a new position in OceanFirst Financial during the 3rd quarter worth $176,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in OceanFirst Financial by 42.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,725 shares of the savings and loans company's stock worth $184,000 after purchasing an additional 3,796 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

OceanFirst Financial Stock Down 2.5 %

OCFC stock traded down $0.38 during midday trading on Monday, reaching $14.99. 207,992 shares of the company were exchanged, compared to its average volume of 323,276. The stock's 50-day simple moving average is $15.30 and its 200 day simple moving average is $15.43. OceanFirst Financial Corp. has a 1-year low of $12.01 and a 1-year high of $19.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $892.35 million, a price-to-earnings ratio of 8.77 and a beta of 1.00.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.80 annualized dividend and a yield of 5.34%. OceanFirst Financial's dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OCFC. TheStreet upgraded OceanFirst Financial from a "c+" rating to a "b-" rating in a research note on Monday, January 8th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $19.00 price target (down previously from $22.00) on shares of OceanFirst Financial in a research note on Monday, April 22nd. StockNews.com raised shares of OceanFirst Financial from a "sell" rating to a "hold" rating in a research report on Monday, April 22nd. Stephens reaffirmed an "equal weight" rating and set a $20.00 price objective on shares of OceanFirst Financial in a research report on Friday, April 19th. Finally, Raymond James lowered their target price on shares of OceanFirst Financial from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.20.

OceanFirst Financial 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.