3,600 Shares in OceanFirst Financial Corp. (NASDAQ:OCFC) Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC purchased a new position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,600 shares of the savings and loans company’s stock, valued at approximately $65,000.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of OceanFirst Financial during the 3rd quarter worth about $25,000. Versant Capital Management Inc boosted its stake in shares of OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 1,337 shares during the period. Point72 DIFC Ltd purchased a new position in shares of OceanFirst Financial during the 3rd quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of 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 worth $57,000 after purchasing an additional 1,379 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of OceanFirst Financial by 98.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,737 shares of the savings and loans company’s stock worth $144,000 after purchasing an additional 3,835 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Trading Down 0.9 %

NASDAQ:OCFC opened at $17.54 on Tuesday. OceanFirst Financial Corp. has a one year low of $14.03 and a one year high of $21.87. 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 cap of $1.03 billion, a P/E ratio of 10.63 and a beta of 1.05. The firm has a 50-day simple moving average of $18.17 and a 200-day simple moving average of $18.41.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Equities analysts anticipate 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. Stockholders 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 dividend yield of 4.56%. OceanFirst Financial’s dividend payout ratio is currently 48.48%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OCFC. Keefe, Bruyette & Woods lifted their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson reiterated a “neutral” rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. Raymond James upgraded shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Hovde Group decreased their price objective on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, OceanFirst Financial presently has an average rating of “Hold” and a consensus target price of $20.83.

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.