OceanFirst Financial Corp. (NASDAQ:OCFC) Holdings Raised by Systematic Financial Management LP

Systematic Financial Management LP increased its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964,646 shares of the savings and loans company's stock after buying an additional 47,561 shares during the quarter. Systematic Financial Management LP owned about 1.65% of OceanFirst Financial worth $17,460,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OCFC. Barclays PLC grew its stake in OceanFirst Financial by 13.0% during the 3rd quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock worth $5,566,000 after buying an additional 34,458 shares during the last quarter. Franklin Resources Inc. boosted its position in OceanFirst Financial by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 79,571 shares of the savings and loans company's stock worth $1,466,000 after acquiring an additional 8,253 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in OceanFirst Financial by 28.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,519 shares of the savings and loans company's stock worth $534,000 after acquiring an additional 6,496 shares during the period. EMC Capital Management boosted its position in OceanFirst Financial by 6,001.3% during the 4th quarter. EMC Capital Management now owns 9,152 shares of the savings and loans company's stock worth $166,000 after acquiring an additional 9,002 shares during the period. Finally, Empowered Funds LLC boosted its position in OceanFirst Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 133,122 shares of the savings and loans company's stock worth $2,410,000 after acquiring an additional 6,444 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OCFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on 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. Raymond James reduced their price target on 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. Stephens restated an "equal weight" rating and issued a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. Finally, Hovde Group cut their price objective on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, OceanFirst Financial currently has a consensus rating of "Moderate Buy" and an average price target of $20.67.

OceanFirst Financial Trading Down 1.0%

Shares of NASDAQ OCFC opened at $17.55 on Friday. OceanFirst Financial Corp. has a 12 month low of $14.03 and a 12 month high of $21.87. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 10.64 and a beta of 0.99. 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 business has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $17.98.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced 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. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. The business had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.66 million. Sell-side analysts predict that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, May 5th. OceanFirst Financial's payout ratio is 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.

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