Teachers Advisors LLC boosted its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 27.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,534 shares of the savings and loans company’s stock after buying an additional 12,299 shares during the quarter. Teachers Advisors LLC owned approximately 0.18% of OceanFirst Financial Corp. worth $1,533,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its holdings in OceanFirst Financial Corp. by 80.5% in the 2nd quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock valued at $102,000 after buying an additional 1,684 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in OceanFirst Financial Corp. by 2,366.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after purchasing an additional 3,786 shares during the period. Legal & General Group Plc increased its position in OceanFirst Financial Corp. by 6.8% during the 1st quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 418 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in OceanFirst Financial Corp. during the 1st quarter valued at approximately $228,000. Finally, Bank of America Corp DE increased its position in OceanFirst Financial Corp. by 55.0% during the 1st quarter. Bank of America Corp DE now owns 14,241 shares of the savings and loans company’s stock valued at $402,000 after purchasing an additional 5,054 shares during the period. Institutional investors and hedge funds own 67.28% of the company’s stock.
A number of analysts have weighed in on OCFC shares. DA Davidson started coverage on shares of OceanFirst Financial Corp. in a research report on Thursday, September 21st. They set a “buy” rating and a $31.00 target price for the company. BidaskClub downgraded shares of OceanFirst Financial Corp. from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Sandler O’Neill raised shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $31.00 price objective on shares of OceanFirst Financial Corp. in a research report on Friday, October 27th. Finally, Hovde Group initiated coverage on shares of OceanFirst Financial Corp. in a research report on Monday, October 9th. They set an “outperform” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $31.00.
In other OceanFirst Financial Corp. news, Director Steven E. Brady sold 2,800 shares of OceanFirst Financial Corp. stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total transaction of $77,420.00. Following the completion of the transaction, the director now owns 72,562 shares of the company’s stock, valued at approximately $2,006,339.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. Brady sold 3,825 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $24.89, for a total value of $95,204.25. Following the transaction, the director now directly owns 67,177 shares of the company’s stock, valued at approximately $1,672,035.53. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.
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Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) traded up $0.14 during trading hours on Friday, reaching $25.84. The company’s stock had a trading volume of 181,000 shares, compared to its average volume of 135,590. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. OceanFirst Financial Corp. has a fifty-two week low of $21.65 and a fifty-two week high of $30.70. The company has a market cap of $837.37, a PE ratio of 15.77, a PEG ratio of 1.51 and a beta of 0.61.
OceanFirst Financial Corp. (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. OceanFirst Financial Corp. had a return on equity of 8.87% and a net margin of 18.59%. The business had revenue of $50.42 million for the quarter, compared to analysts’ expectations of $50.41 million. equities research analysts forecast that OceanFirst Financial Corp. will post 1.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 3rd. OceanFirst Financial Corp.’s dividend payout ratio (DPR) is currently 50.00%.
OceanFirst Financial Corp. Profile
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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