Prudential Financial Inc. Has $545,000 Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Prudential Financial Inc. lowered its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 40.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,115 shares of the savings and loans company's stock after selling 20,430 shares during the period. Prudential Financial Inc. owned approximately 0.05% of OceanFirst Financial worth $545,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in OCFC. Jane Street Group LLC boosted its position in shares of OceanFirst Financial by 0.7% during the 3rd 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 in the last quarter. Versant Capital Management Inc boosted its holdings 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 buying an additional 1,337 shares in the last quarter. Rhumbline Advisers grew its position in OceanFirst Financial by 2.0% in the fourth quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company's stock worth $1,706,000 after buying an additional 1,863 shares during the last quarter. Bailard Inc. increased its holdings in shares of OceanFirst Financial by 5.2% in the fourth quarter. Bailard Inc. now owns 44,371 shares of the savings and loans company's stock valued at $803,000 after buying an additional 2,200 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of OceanFirst Financial during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 70.98% of the company's stock.

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Wall Street Analyst Weigh In

OCFC has been the topic of a number of recent research reports. Stephens restated an "equal weight" rating and issued a $22.00 target price on shares of OceanFirst Financial in a report on Friday, January 24th. Hovde Group dropped 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. Finally, Raymond James cut their price objective on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Five investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.00.

OceanFirst Financial Stock Down 1.3 %

NASDAQ:OCFC traded down $0.19 during trading hours on Friday, hitting $14.76. 333,768 shares of the company's stock traded hands, compared to its average volume of 294,184. 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 twelve month low of $14.03 and a twelve month high of $21.87. The stock's fifty day moving average price is $17.08 and its two-hundred day moving average price is $18.25. The firm has a market cap of $864.30 million, a P/E ratio of 8.95 and a beta of 0.94.

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 net margin of 14.45% and a return on equity of 5.75%. On average, research analysts expect that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend was Monday, February 3rd. 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.