OceanFirst Financial Corp. (NASDAQ:OCFC) Position Increased by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. increased its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 34.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,788 shares of the savings and loans company's stock after purchasing an additional 178,761 shares during the quarter. Mesirow Institutional Investment Management Inc. owned approximately 1.19% of OceanFirst Financial worth $12,630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OCFC. Jane Street Group LLC grew its stake in shares of OceanFirst Financial by 0.7% in the third quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company's stock worth $1,329,000 after purchasing an additional 494 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of OceanFirst Financial by 3.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,454 shares of the savings and loans company's stock worth $352,000 after purchasing an additional 716 shares during the period. Versant Capital Management Inc boosted its position in OceanFirst Financial by 1,036.4% during the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock worth $27,000 after purchasing an additional 1,337 shares during the period. Sterling Capital Management LLC lifted its holdings in OceanFirst Financial by 807.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock worth $33,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of OceanFirst Financial by 2.0% during the 4th quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock valued at $1,706,000 after acquiring an additional 1,863 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Stephens reaffirmed an "equal weight" rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Friday, January 24th. Hovde Group cut their price target on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, January 27th. Finally, Raymond James lowered their price objective 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. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

OceanFirst Financial Stock Down 0.8 %

Shares of NASDAQ:OCFC traded down $0.14 during trading on Friday, hitting $16.37. The company's stock had a trading volume of 131,555 shares, compared to its average volume of 294,041. The company has a market capitalization of $955.41 million, a PE ratio of 9.92 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 Corp. has a fifty-two week low of $14.03 and a fifty-two week high of $21.87. The business has a 50 day moving average price of $16.67 and a two-hundred day moving average price of $18.12.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. The business had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.66 million. As a group, research analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

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.