Sei Investments Co. Cuts Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Sei Investments Co. trimmed its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,407 shares of the savings and loans company's stock after selling 28,565 shares during the period. Sei Investments Co. owned about 0.11% of OceanFirst Financial worth $1,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc increased 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 worth $27,000 after buying an additional 1,337 shares during the period. Point72 DIFC Ltd purchased a new position in shares of OceanFirst Financial in the third quarter valued at about $41,000. Venturi Wealth Management LLC purchased a new position in shares of OceanFirst Financial in the fourth quarter valued at about $65,000. Global Retirement Partners LLC raised its stake in shares of OceanFirst Financial by 1,009.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company's stock valued at $100,000 after acquiring an additional 5,048 shares during the last quarter. Finally, EMC Capital Management boosted its holdings in shares of OceanFirst Financial by 6,001.3% during the fourth quarter. EMC Capital Management now owns 9,152 shares of the savings and loans company's stock worth $166,000 after purchasing an additional 9,002 shares during the period. 70.98% of the stock is owned by institutional investors.

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OceanFirst Financial Stock Down 1.3 %

Shares of NASDAQ:OCFC traded down $0.19 during trading on Friday, hitting $14.76. The stock had a trading volume of 333,768 shares, compared to its average volume of 293,971. The company has a market capitalization of $864.30 million, a PE ratio of 8.95 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm's fifty day moving average is $17.08 and its 200 day moving average is $18.25. OceanFirst Financial Corp. has a 12 month low of $14.03 and a 12 month high of $21.87.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) 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%. Analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors 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 dividend on an annualized basis and a yield of 5.42%. OceanFirst Financial's dividend payout ratio (DPR) is currently 48.48%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OCFC shares. Raymond James reduced their price target 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. Hovde Group reduced their target price 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, Stephens restated an "equal weight" rating and set a $22.00 target price on shares of OceanFirst Financial in a report on Friday, January 24th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, OceanFirst Financial presently has an average rating of "Hold" and a consensus target price of $21.00.

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.