Charles Schwab Investment Management Inc. lessened its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,985 shares of the savings and loans company's stock after selling 34,580 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.26% of OceanFirst Financial worth $13,285,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock worth $27,000 after acquiring an additional 1,337 shares during the period. Point72 DIFC Ltd acquired a new position in shares of OceanFirst Financial in the 3rd quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of OceanFirst Financial by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company's stock valued at $57,000 after purchasing an additional 1,379 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of OceanFirst Financial during the 4th quarter worth $65,000. Finally, Global Retirement Partners LLC raised its position in shares of OceanFirst Financial by 1,009.6% in the 4th quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company's stock worth $100,000 after buying an additional 5,048 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.
Wall Street Analysts Forecast Growth
OCFC has been the subject of a number of research reports. Stephens reiterated an "equal weight" rating and set a $22.00 target price on shares of OceanFirst Financial in a report on Friday, January 24th. Hovde Group cut their price objective on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, January 27th. DA Davidson reaffirmed a "neutral" rating and issued a $22.00 target price on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods boosted their price target on OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Raymond James raised shares of OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, OceanFirst Financial has an average rating of "Hold" and a consensus price target of $20.83.
Check Out Our Latest Report on OCFC
OceanFirst Financial Stock Down 0.6 %
Shares of OceanFirst Financial stock traded down $0.11 on Tuesday, hitting $17.20. 197,029 shares of the company's stock traded hands, compared to its average volume of 278,132. The stock has a market cap of $1.01 billion, a P/E ratio of 10.42 and a beta of 1.03. The firm's 50-day moving average is $17.88 and its 200 day moving average is $18.45. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 52-week low of $14.03 and a 52-week high of $21.87.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Equities analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.
OceanFirst Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial's dividend payout ratio is currently 48.48%.
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.
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