Thrivent Financial for Lutherans lowered its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,459 shares of the savings and loans company's stock after selling 31,838 shares during the period. Thrivent Financial for Lutherans owned about 0.36% of OceanFirst Financial worth $3,792,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of OCFC. Jane Street Group LLC boosted its stake in 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 worth $1,329,000 after purchasing an additional 494 shares during the last quarter. 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 acquiring an additional 1,337 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in OceanFirst Financial by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company's stock valued at $57,000 after acquiring an additional 1,379 shares in the last quarter. Rhumbline Advisers grew its stake in 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 in the last quarter. Finally, Cerity Partners LLC raised its holdings in OceanFirst Financial by 4.7% in the 3rd quarter. Cerity Partners LLC now owns 41,905 shares of the savings and loans company's stock valued at $779,000 after acquiring an additional 1,890 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 equities research analysts have recently issued reports on the company. DA Davidson restated a "neutral" rating and issued a $22.00 price target on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Hovde Group lowered their price objective 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. Raymond James raised OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Stephens reissued an "equal weight" rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.83.
Check Out Our Latest Analysis on OCFC
OceanFirst Financial Trading Down 1.1 %
Shares of NASDAQ OCFC traded down $0.19 during mid-day trading on Friday, reaching $17.06. 250,010 shares of the company's stock were exchanged, compared to its average volume of 289,152. The company's 50-day moving average is $17.76 and its 200-day moving average is $18.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a market capitalization of $998.98 million, a price-to-earnings ratio of 10.34 and a beta of 1.03. OceanFirst Financial Corp. has a 52-week low of $14.03 and a 52-week high of $21.87.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 EPS 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%. Analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.
OceanFirst Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $0.20 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.80 annualized dividend and a yield of 4.69%. OceanFirst Financial's dividend payout ratio (DPR) is presently 48.48%.
About OceanFirst Financial
(
Free Report)
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.
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