Trexquant Investment LP Buys 43,019 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

Trexquant Investment LP raised its stake in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 59.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,653 shares of the savings and loans company's stock after acquiring an additional 43,019 shares during the quarter. Trexquant Investment LP owned approximately 0.20% of OceanFirst Financial worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of OCFC. Jane Street Group LLC lifted its stake in 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 valued at $1,329,000 after purchasing an additional 494 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of OceanFirst Financial by 1,036.4% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock valued at $27,000 after buying an additional 1,337 shares during the period. Rhumbline Advisers lifted 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 buying an additional 1,863 shares during the last quarter. Bailard Inc. grew its stake in shares of OceanFirst Financial by 5.2% during the 4th quarter. Bailard Inc. now owns 44,371 shares of the savings and loans company's stock worth $803,000 after acquiring an additional 2,200 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in OceanFirst Financial in the 3rd quarter worth about $41,000. 70.98% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

OCFC has been the subject of a number of research reports. Hovde Group cut their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $22.00 target price on shares of OceanFirst Financial in a report on Friday, January 24th. Finally, Raymond James cut their price target on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, OceanFirst Financial presently has an average rating of "Hold" and an average price target of $21.00.

OceanFirst Financial Price Performance

Shares of NASDAQ:OCFC traded up $0.13 on Monday, hitting $14.89. The company's stock had a trading volume of 25,713 shares, compared to its average volume of 293,205. The company has a 50-day simple moving average of $17.08 and a 200 day simple moving average of $18.25. The company has a market capitalization of $871.91 million, a PE ratio of 9.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. OceanFirst Financial Corp. has a 1 year low of $7.50 and a 1 year high of $21.87.

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

OceanFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.80 annualized dividend and a yield of 5.37%. OceanFirst Financial's payout ratio is 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.