OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP lifted its position in OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 917,085 shares of the savings and loans company's stock after purchasing an additional 89,099 shares during the period. Systematic Financial Management LP owned about 1.57% of OceanFirst Financial worth $17,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in shares of OceanFirst Financial by 43.7% during the 3rd quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company's stock worth $13,635,000 after acquiring an additional 223,203 shares in the last quarter. American Century Companies Inc. boosted its position in OceanFirst Financial by 20.8% during the second quarter. American Century Companies Inc. now owns 956,320 shares of the savings and loans company's stock worth $15,196,000 after purchasing an additional 164,626 shares in the last quarter. AQR Capital Management LLC grew its holdings in OceanFirst Financial by 24.4% in the second quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company's stock valued at $12,828,000 after purchasing an additional 158,590 shares during the period. Vanguard Group Inc. grew its holdings in OceanFirst Financial by 3.1% in the first quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company's stock valued at $57,027,000 after purchasing an additional 105,764 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of OceanFirst Financial by 32.6% in the second quarter. Thrivent Financial for Lutherans now owns 272,243 shares of the savings and loans company's stock valued at $4,326,000 after buying an additional 66,918 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Hovde Group lifted their price target on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an "outperform" rating in a research note on Friday, September 20th. Piper Sandler set a $17.00 target price on OceanFirst Financial and gave the company a "neutral" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Wednesday. Finally, DA Davidson reissued a "neutral" rating and issued a $22.00 price target on shares of OceanFirst Financial in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.42.

OceanFirst Financial Trading Down 0.5 %

NASDAQ:OCFC traded down $0.11 on Thursday, reaching $20.36. The company's stock had a trading volume of 186,924 shares, compared to its average volume of 297,638. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-month high of $21.87. The stock has a 50 day moving average price of $19.18 and a 200 day moving average price of $17.35. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 11.70 and a beta of 1.04. 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, October 17th. The savings and loans company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $96.90 million during the quarter, compared to analyst estimates of $92.79 million. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. On average, equities analysts anticipate that OceanFirst Financial Corp. will post 1.59 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.80 annualized dividend and a yield of 3.93%. OceanFirst Financial's dividend payout ratio is presently 45.71%.

Insider Buying and Selling

In other OceanFirst Financial news, Director Joseph M. Jr. Murphy sold 1,500 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.03, for a total transaction of $30,045.00. Following the transaction, the director now owns 177,417 shares of the company's stock, valued at approximately $3,553,662.51. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by company insiders.

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.