Systematic Financial Management LP Has $17.46 Million Stock Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Systematic Financial Management LP lifted its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 964,646 shares of the savings and loans company's stock after purchasing an additional 47,561 shares during the period. Systematic Financial Management LP owned approximately 1.65% of OceanFirst Financial worth $17,460,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OCFC. ProShare Advisors LLC lifted its holdings in OceanFirst Financial by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 16,202 shares of the savings and loans company's stock valued at $293,000 after buying an additional 5,332 shares during the period. Millennium Management LLC lifted its holdings in OceanFirst Financial by 121.7% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in OceanFirst Financial by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,732 shares of the savings and loans company's stock valued at $592,000 after buying an additional 1,141 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in OceanFirst Financial by 518.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 103,961 shares of the savings and loans company's stock valued at $1,882,000 after buying an additional 87,152 shares during the period. Finally, Graham Capital Management L.P. acquired a new position in OceanFirst Financial in the fourth quarter valued at approximately $244,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Stock Performance

Shares of NASDAQ OCFC traded down $0.06 during mid-day trading on Thursday, reaching $16.90. 80,091 shares of the company were exchanged, compared to its average volume of 301,325. OceanFirst Financial Corp. has a twelve month low of $14.03 and a twelve month high of $21.87. 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 company's 50-day simple moving average is $16.50 and its 200-day simple moving average is $17.95. The stock has a market capitalization of $986.69 million, a P/E ratio of 10.25 and a beta of 0.99.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued its 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 company had revenue of $97.91 million during the quarter, compared to analysts' expectations of $95.66 million. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. As a group, research analysts predict that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Monday, May 5th. OceanFirst Financial's payout ratio is 52.29%.

Wall Street Analysts Forecast Growth

OCFC has been the topic of several analyst reports. Hovde Group cut their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Friday, January 24th. Keefe, Bruyette & Woods lowered their price objective on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Raymond James lowered their price objective on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $20.67.

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.