Federated Hermes Inc. lowered its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,663 shares of the savings and loans company's stock after selling 32,928 shares during the period. Federated Hermes Inc. owned 0.26% of OceanFirst Financial worth $2,745,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Foundry Partners LLC increased its holdings in shares of OceanFirst Financial by 1,985.9% in the 4th quarter. Foundry Partners LLC now owns 303,794 shares of the savings and loans company's stock valued at $5,499,000 after acquiring an additional 289,230 shares during the last quarter. JPMorgan Chase & Co. increased its stake in OceanFirst Financial by 14.6% in 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 purchasing an additional 157,711 shares during the last quarter. American Century Companies Inc. raised its holdings in OceanFirst Financial by 11.2% during the fourth quarter. American Century Companies Inc. now owns 1,208,800 shares of the savings and loans company's stock worth $21,879,000 after purchasing an additional 121,923 shares in the last quarter. Trexquant Investment LP boosted its holdings in shares of OceanFirst Financial by 59.2% in the 4th quarter. Trexquant Investment LP now owns 115,653 shares of the savings and loans company's stock valued at $2,093,000 after buying an additional 43,019 shares in the last quarter. Finally, Barclays PLC grew its position 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 buying an additional 34,458 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.
OceanFirst Financial Stock Performance
OceanFirst Financial stock traded up $0.25 during mid-day trading on Tuesday, reaching $15.54. 246,793 shares of the company were exchanged, compared to its average volume of 295,374. The firm's 50-day simple moving average is $17.04 and its two-hundred day simple moving average is $18.23. 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 $925.39 million, a PE ratio of 9.42 and a beta of 0.94. 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 issued its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, topping 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%. Equities analysts predict that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.
OceanFirst Financial Dividend Announcement
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 5.15%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial's dividend payout ratio is presently 48.48%.
Wall Street Analyst Weigh In
Several research firms have issued reports on OCFC. 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 note on Monday, January 27th. Stephens reissued an "equal weight" rating and issued a $22.00 target price on shares of OceanFirst Financial in a research report on Friday, January 24th. Finally, Raymond James reduced their price objective on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Five 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $21.00.
Read Our Latest Stock Analysis on OceanFirst Financial
OceanFirst Financial Company 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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