Curi RMB Capital LLC lessened its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 33.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the savings and loans company's stock after selling 25,000 shares during the period. Curi RMB Capital LLC owned about 0.09% of OceanFirst Financial worth $930,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in OCFC. Innealta Capital LLC purchased a new position in OceanFirst Financial in the second quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new stake in shares of OceanFirst Financial during the 3rd quarter valued at about $25,000. Acadian Asset Management LLC purchased a new stake in shares of OceanFirst Financial during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new position in OceanFirst Financial during the 2nd quarter worth approximately $62,000. Finally, EMC Capital Management acquired a new stake in OceanFirst Financial in the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 70.98% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on OCFC shares. Hovde Group boosted their target price on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Piper Sandler set a $17.00 price target on shares of OceanFirst Financial and gave the stock a "neutral" rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, OceanFirst Financial has an average rating of "Hold" and an average price target of $19.30.
Read Our Latest Research Report on OCFC
Insider Transactions at OceanFirst Financial
In related news, Director Joseph M. Jr. Murphy sold 1,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.03, for a total transaction of $30,045.00. Following the sale, the director now owns 177,417 shares in the company, valued at $3,553,662.51. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.00% of the company's stock.
OceanFirst Financial Stock Up 0.1 %
Shares of NASDAQ:OCFC traded up $0.03 during midday trading on Friday, reaching $20.49. The company had a trading volume of 171,773 shares, compared to its average volume of 303,590. OceanFirst Financial Corp. has a one year low of $13.41 and a one year high of $21.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market capitalization of $1.20 billion, a P/E ratio of 11.71 and a beta of 1.01. The stock's fifty day moving average price is $18.46 and its 200-day moving average price is $16.89.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued its earnings results on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $96.90 million for the quarter, compared to analyst estimates of $92.79 million. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. Equities research analysts expect that OceanFirst Financial Corp. will post 1.59 earnings per share for the current fiscal year.
OceanFirst Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $0.20 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.80 annualized dividend and a dividend yield of 3.90%. OceanFirst Financial's payout ratio is 45.71%.
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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