Boston Partners Has $13.40 Million Stake in OceanFirst Financial Corp. (NASDAQ:OCFC)

Boston Partners raised its stake in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 733,190 shares of the savings and loans company's stock after acquiring an additional 20,249 shares during the period. Boston Partners owned 1.25% of OceanFirst Financial worth $13,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of OceanFirst Financial by 587.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,082,855 shares of the savings and loans company's stock worth $20,130,000 after purchasing an additional 925,283 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 worth $23,074,000 after buying an additional 157,711 shares during the period. Systematic Financial Management LP lifted its stake in OceanFirst Financial by 10.8% in the third quarter. Systematic Financial Management LP now owns 917,085 shares of the savings and loans company's stock valued at $17,049,000 after buying an additional 89,099 shares during the last quarter. Barclays PLC boosted its holdings in shares of OceanFirst Financial by 13.0% during the third quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock valued at $5,566,000 after acquiring an additional 34,458 shares during the period. Finally, Royce & Associates LP grew its position in shares of OceanFirst Financial by 4.1% during 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 last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. DA Davidson reiterated a "neutral" rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Stephens restated an "equal weight" rating and issued a $22.00 target price on shares of OceanFirst Financial in a research report on Friday, January 24th. Hovde Group reduced their price target on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Finally, Raymond James raised OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research note 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.83.

OceanFirst Financial Price Performance

NASDAQ OCFC traded down $0.11 on Tuesday, reaching $17.20. 197,029 shares of the stock traded hands, compared to its average volume of 278,132. OceanFirst Financial Corp. has a 12 month low of $14.03 and a 12 month high of $21.87. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 10.42 and a beta of 1.03. The firm's fifty day simple moving average is $17.88 and its 200 day simple 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 (NASDAQ:OCFC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, beating 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%. As a group, research analysts predict that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.65%. OceanFirst Financial's payout ratio is currently 48.48%.

About OceanFirst Financial

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.