OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138,685 shares of the savings and loans company's stock after selling 102,506 shares during the quarter. JPMorgan Chase & Co. owned about 1.95% of OceanFirst Financial worth $20,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OCFC. Geode Capital Management LLC raised its stake in OceanFirst Financial by 2.0% during the third 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. American Century Companies Inc. raised its position in shares of OceanFirst Financial by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,208,800 shares of the savings and loans company's stock valued at $21,879,000 after buying an additional 121,923 shares during the period. Wellington Management Group LLP lifted its holdings in OceanFirst Financial by 587.2% in the third quarter. Wellington Management Group LLP now owns 1,082,855 shares of the savings and loans company's stock valued at $20,130,000 after acquiring an additional 925,283 shares during the last quarter. Royce & Associates LP grew its position in OceanFirst Financial by 4.1% in the fourth quarter. Royce & Associates LP now owns 763,840 shares of the savings and loans company's stock worth $13,826,000 after acquiring an additional 30,399 shares during the period. Finally, Boston Partners increased its stake in OceanFirst Financial by 2.8% during the fourth quarter. Boston Partners now owns 733,190 shares of the savings and loans company's stock worth $13,400,000 after acquiring an additional 20,249 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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OceanFirst Financial Stock Up 1.6 %

Shares of OCFC traded up $0.24 during mid-day trading on Tuesday, hitting $15.53. 95,015 shares of the company's stock were exchanged, compared to its average volume of 316,614. The stock's 50-day moving average is $17.04 and its 200-day moving average is $18.23. 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 company has a market cap of $924.80 million, a price-to-earnings ratio of 9.41 and a beta of 0.94.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last released its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.20 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.80 annualized dividend and a yield of 5.15%. OceanFirst Financial's dividend payout ratio (DPR) is 48.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OCFC shares. Hovde Group decreased their price target on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, January 27th. Stephens reaffirmed 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 dropped their price target on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Five equities research 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 MarketBeat.com, OceanFirst Financial presently has a consensus rating of "Hold" and an average price target of $21.00.

OceanFirst Financial Profile

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.