OceanFirst Financial Corp. (NASDAQ:OCFC) Stake Cut by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC cut its position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,445 shares of the savings and loans company's stock after selling 18,556 shares during the quarter. Bridgeway Capital Management LLC owned about 0.44% of OceanFirst Financial worth $4,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in shares of OceanFirst Financial by 3.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company's stock valued at $352,000 after purchasing an additional 716 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of OceanFirst Financial by 8.1% during the 4th quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company's stock worth $212,000 after acquiring an additional 882 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of OceanFirst Financial by 1,036.4% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock worth $27,000 after buying an additional 1,337 shares during the period. Sterling Capital Management LLC lifted its stake in shares of OceanFirst Financial by 807.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock valued at $33,000 after buying an additional 1,640 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in OceanFirst Financial by 2.0% in the 4th quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock worth $1,706,000 after purchasing an additional 1,863 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Trading Up 0.6%

Shares of OceanFirst Financial stock traded up $0.10 during trading hours on Tuesday, hitting $17.58. The company's stock had a trading volume of 60,700 shares, compared to its average volume of 297,809. The firm has a fifty day moving average of $16.43 and a 200-day moving average of $17.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. OceanFirst Financial Corp. has a twelve month low of $14.03 and a twelve month high of $21.87. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 10.65 and a beta of 0.99.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. The company had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.66 million. Research analysts forecast that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a yield of 4.55%. OceanFirst Financial's payout ratio is 52.29%.

Analyst Ratings Changes

OCFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Raymond James dropped their target price on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Stephens reiterated an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a research note on Friday, January 24th. Finally, Hovde Group cut their price objective 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. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.