OceanFirst Financial Corp. (NASDAQ:OCFC) Stake Raised by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 1,009.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,548 shares of the savings and loans company’s stock after purchasing an additional 5,048 shares during the period. Global Retirement Partners LLC’s holdings in OceanFirst Financial were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OCFC. Jane Street Group LLC boosted its holdings in OceanFirst Financial by 0.7% during the third quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company’s stock worth $1,329,000 after buying an additional 494 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of OceanFirst Financial by 5.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,815 shares of the savings and loans company’s stock valued at $331,000 after acquiring an additional 995 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of OceanFirst Financial by 8.5% during the 3rd quarter. Foundry Partners LLC now owns 14,564 shares of the savings and loans company’s stock worth $271,000 after acquiring an additional 1,145 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of OceanFirst Financial by 1,036.4% in the 4th 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. Finally, Capital Performance Advisors LLP acquired a new stake in shares of OceanFirst Financial during the third quarter worth $25,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

OceanFirst Financial Price Performance

Shares of NASDAQ:OCFC opened at $17.67 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 10.71 and a beta of 1.05. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 1 year low of $14.03 and a 1 year high of $21.87. The business has a fifty day simple moving average of $18.15 and a 200 day simple moving average of $18.41.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share 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%. As a group, sell-side analysts predict that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s dividend payout ratio is presently 48.48%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OCFC shares. Stephens reissued an “equal weight” rating and issued a $22.00 price target on shares of OceanFirst Financial in a research note on Friday, January 24th. DA Davidson restated a “neutral” rating and set a $22.00 price target on shares of OceanFirst Financial in a report on Wednesday, December 4th. Keefe, Bruyette & Woods raised their price objective 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. Hovde Group cut their target price on shares of 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, Raymond James raised OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.83.

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.