Price T Rowe Associates Inc. MD boosted its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 48.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,883 shares of the savings and loans company's stock after buying an additional 53,532 shares during the period. Price T Rowe Associates Inc. MD owned 0.28% of OceanFirst Financial worth $2,968,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of OCFC. Versant Capital Management Inc boosted 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 valued at $27,000 after buying an additional 1,337 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of OceanFirst Financial by 807.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock worth $33,000 after acquiring an additional 1,640 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of OceanFirst Financial in the fourth quarter worth $65,000. Global Retirement Partners LLC increased its stake in OceanFirst Financial by 1,009.6% in the fourth quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company's stock valued at $100,000 after purchasing an additional 5,048 shares during the last quarter. Finally, EMC Capital Management grew its position in OceanFirst Financial by 6,001.3% during the fourth quarter. EMC Capital Management now owns 9,152 shares of the savings and loans company's stock valued at $166,000 after acquiring an additional 9,002 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on OCFC shares. Keefe, Bruyette & Woods lowered their target price on OceanFirst Financial from $21.00 to $20.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Hovde Group reduced their target price on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Friday, January 24th. Finally, Raymond James dropped their price target on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.67.
Check Out Our Latest Stock Analysis on OCFC
OceanFirst Financial Price Performance
Shares of OCFC stock traded down $0.06 during mid-day trading on Friday, hitting $16.64. 235,792 shares of the stock traded hands, compared to its average volume of 298,251. OceanFirst Financial Corp. has a twelve month low of $14.03 and a twelve month high of $21.87. The firm has a market cap of $971.51 million, a price-to-earnings ratio of 10.08 and a beta of 0.99. The company's 50-day simple moving average is $16.42 and its 200-day simple moving average is $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 (NASDAQ:OCFC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.66 million. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. As a group, equities research analysts expect 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 will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $0.80 annualized dividend and a dividend yield of 4.81%. OceanFirst Financial's dividend payout ratio (DPR) is presently 52.29%.
About OceanFirst Financial
(
Free Report)
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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