American Century Companies Inc. Purchases 121,923 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

American Century Companies Inc. lifted its stake in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,208,800 shares of the savings and loans company's stock after buying an additional 121,923 shares during the period. American Century Companies Inc. owned approximately 2.07% of OceanFirst Financial worth $21,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in OceanFirst Financial during the 3rd quarter valued at approximately $192,000. Cerity Partners LLC lifted its stake in OceanFirst Financial by 4.7% in the third quarter. Cerity Partners LLC now owns 41,905 shares of the savings and loans company's stock worth $779,000 after acquiring an additional 1,890 shares during the period. Captrust Financial Advisors purchased a new position in shares of OceanFirst Financial during the third quarter valued at about $202,000. Point72 Asia Singapore Pte. Ltd. raised its stake in OceanFirst Financial by 82.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company's stock worth $57,000 after buying an additional 1,379 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in OceanFirst Financial in the third quarter worth about $312,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

OCFC has been the subject of a number of research analyst reports. Stephens restated an "equal weight" rating and issued a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. Raymond James dropped their target price on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Hovde Group decreased their price target 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. DA Davidson reissued a "neutral" rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $21.00.

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OceanFirst Financial Stock Down 0.1 %

Shares of OCFC stock traded down $0.01 during mid-day trading on Wednesday, hitting $16.99. The company's stock had a trading volume of 79,797 shares, compared to its average volume of 288,342. The stock has a market cap of $994.88 million, a price-to-earnings ratio of 10.30 and a beta of 1.03. 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 52-week low of $14.03 and a 52-week high of $21.87. The business has a 50-day moving average price of $17.68 and a 200 day moving average price of $18.45.

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 for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. Research analysts predict that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.71%. The ex-dividend date was Monday, February 3rd. OceanFirst Financial's dividend payout ratio is currently 48.48%.

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.