Quantbot Technologies LP Increases Stake in OceanFirst Financial Corp. $OCFC

Quantbot Technologies LP increased its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 90.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,813 shares of the savings and loans company’s stock after purchasing an additional 14,649 shares during the period. Quantbot Technologies LP owned approximately 0.05% of OceanFirst Financial worth $524,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of OceanFirst Financial in the 4th quarter valued at $57,000. Cary Street Partners Financial LLC purchased a new stake in shares of OceanFirst Financial in the 4th quarter valued at $183,000. Aigen Investment Management LP purchased a new stake in shares of OceanFirst Financial in the 1st quarter valued at $175,000. PharVision Advisers LLC purchased a new stake in shares of OceanFirst Financial in the 4th quarter valued at $192,000. Finally, Captrust Financial Advisors boosted its stake in shares of OceanFirst Financial by 8.1% in the 4th quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company’s stock valued at $212,000 after purchasing an additional 882 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Trading Down 0.8%

Shares of OCFC opened at $18.10 on Tuesday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 12.84 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 0.70. The firm has a fifty day simple moving average of $17.62 and a two-hundred day simple moving average of $17.15. OceanFirst Financial Corp. has a twelve month low of $14.29 and a twelve month high of $21.87.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $99.37 million for the quarter, compared to analysts’ expectations of $101.26 million. OceanFirst Financial had a net margin of 12.89% and a return on equity of 5.22%. On average, research analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a $0.20 dividend. The ex-dividend date was Monday, August 4th. This represents a $0.80 annualized dividend and a yield of 4.4%. OceanFirst Financial’s dividend payout ratio is 56.74%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut their price objective on shares of OceanFirst Financial from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

OceanFirst Financial Company 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.