Addison Capital Co acquired a new stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,751 shares of the savings and loans company’s stock, valued at approximately $308,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of OCFC. Janus Henderson Group PLC bought a new position in shares of OceanFirst Financial in the 2nd quarter worth about $6,326,000. Lord Abbett & CO. LLC lifted its position in shares of OceanFirst Financial by 303.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 299,345 shares of the savings and loans company’s stock worth $8,118,000 after buying an additional 225,211 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of OceanFirst Financial by 10.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,332,791 shares of the savings and loans company’s stock worth $36,145,000 after buying an additional 131,100 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of OceanFirst Financial by 16.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 902,624 shares of the savings and loans company’s stock worth $24,479,000 after buying an additional 127,888 shares during the last quarter. Finally, State Street Corp lifted its position in shares of OceanFirst Financial by 23.8% in the 2nd quarter. State Street Corp now owns 581,074 shares of the savings and loans company’s stock worth $15,758,000 after buying an additional 111,891 shares during the last quarter. Hedge funds and other institutional investors own 70.93% of the company’s stock.
A number of research firms have recently issued reports on OCFC. Zacks Investment Research downgraded shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub downgraded shares of OceanFirst Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. ValuEngine downgraded shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $37.00 price target on shares of OceanFirst Financial in a research report on Friday, December 22nd. Finally, Hovde Group began coverage on shares of OceanFirst Financial in a research report on Monday, October 9th. They issued an “outperform” rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. OceanFirst Financial currently has an average rating of “Buy” and an average price target of $31.83.
In related news, Director Steven E. Brady sold 2,800 shares of OceanFirst Financial stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total value of $77,420.00. Following the sale, the director now directly owns 72,562 shares in the company, valued at approximately $2,006,339.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.00% of the company’s stock.
OceanFirst Financial Corp. (NASDAQ:OCFC) traded up $0.34 during trading on Friday, hitting $27.97. 116,883 shares of the stock were exchanged, compared to its average volume of 148,977. The company has a market cap of $910.03, a P/E ratio of 23.31, a P/E/G ratio of 1.55 and a beta of 0.60. OceanFirst Financial Corp. has a one year low of $24.02 and a one year high of $30.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94.
OceanFirst Financial (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 Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $50.42 million for the quarter, compared to the consensus estimate of $50.41 million. OceanFirst Financial had a net margin of 18.59% and a return on equity of 8.87%. equities analysts expect that OceanFirst Financial Corp. will post 1.7 EPS for the current year.
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OceanFirst Financial Company 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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