Ieq Capital LLC purchased a new position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,642 shares of the savings and loans company's stock, valued at approximately $446,000.
A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in OceanFirst Financial by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company's stock valued at $23,074,000 after buying an additional 157,711 shares in the last quarter. Barclays PLC raised its stake in shares of OceanFirst Financial by 13.0% in the 3rd quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock valued at $5,566,000 after acquiring an additional 34,458 shares during the period. Royce & Associates LP lifted its holdings in shares of OceanFirst Financial by 43.7% during the 3rd quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company's stock valued at $13,635,000 after acquiring an additional 223,203 shares in the last quarter. Geode Capital Management LLC boosted its position in OceanFirst Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,421,373 shares of the savings and loans company's stock worth $26,428,000 after purchasing an additional 27,579 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in OceanFirst Financial by 28.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,519 shares of the savings and loans company's stock valued at $534,000 after purchasing an additional 6,496 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
OceanFirst Financial Stock Up 1.9 %
Shares of OceanFirst Financial stock traded up $0.34 during trading on Friday, reaching $18.01. The company had a trading volume of 373,918 shares, compared to its average volume of 317,077. 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 fifty-two week low of $14.03 and a fifty-two week high of $21.87. The firm's fifty day moving average is $18.15 and its 200-day moving average is $18.44. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 10.92 and a beta of 1.05.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. On average, analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current year.
OceanFirst Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial's dividend payout ratio is presently 48.48%.
Wall Street Analysts Forecast Growth
OCFC has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Hovde Group decreased their price objective on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Stephens restated an "equal weight" rating and set a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. Raymond James upgraded OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, DA Davidson restated a "neutral" rating and set a $22.00 price objective on shares of OceanFirst Financial in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, OceanFirst Financial currently has an average rating of "Hold" and an average target price of $20.83.
View Our Latest Stock Report on OCFC
OceanFirst Financial Profile
(
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.
Read More
Before you consider OceanFirst Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OceanFirst Financial wasn't on the list.
While OceanFirst Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
