Tudor Investment Corp ET AL Has $1.94 Million Stock Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Tudor Investment Corp ET AL increased its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,912 shares of the savings and loans company's stock after buying an additional 38,987 shares during the period. Tudor Investment Corp ET AL owned 0.18% of OceanFirst Financial worth $1,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in 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 acquiring an additional 716 shares during the period. Versant Capital Management Inc grew its holdings in OceanFirst Financial by 1,036.4% in the 4th 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 during the last quarter. Sterling Capital Management LLC increased its position in OceanFirst Financial by 807.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock worth $33,000 after buying an additional 1,640 shares during the period. Rhumbline Advisers lifted its holdings in shares of OceanFirst Financial by 2.0% during the fourth quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock worth $1,706,000 after buying an additional 1,863 shares during the last quarter. Finally, Bailard Inc. boosted its position in shares of OceanFirst Financial by 5.2% in the fourth quarter. Bailard Inc. now owns 44,371 shares of the savings and loans company's stock valued at $803,000 after acquiring an additional 2,200 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OCFC shares. 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 research report on Wednesday, April 2nd. Stephens reissued an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. 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. Finally, Hovde Group lowered their price target 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 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.67.

OceanFirst Financial Price Performance

OCFC stock traded down $0.06 during trading on Friday, hitting $16.64. The company had a trading volume of 235,792 shares, compared to its average volume of 298,251. The company has a fifty day moving average price of $16.42 and a two-hundred day moving average price of $17.99. OceanFirst Financial Corp. has a fifty-two week low of $14.03 and a fifty-two week high of $21.87. The company has a market cap of $971.46 million, a P/E ratio of 10.08 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79.

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 for the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Equities research analysts expect that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $0.80 annualized dividend and a yield of 4.81%. OceanFirst Financial's dividend 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.