Schonfeld Strategic Advisors LLC Invests $138,000 in OceanFirst Financial Corp. (NASDAQ:OCFC)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) in the third quarter, Holdings Channel reports. The firm purchased 10,100 shares of the savings and loans company’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also modified their holdings of OCFC. BlackRock Inc. increased its position in shares of OceanFirst Financial by 3.6% during the third quarter. BlackRock Inc. now owns 4,531,457 shares of the savings and loans company’s stock valued at $62,035,000 after acquiring an additional 155,623 shares during the last quarter. Vanguard Group Inc. increased its position in shares of OceanFirst Financial by 5.2% during the second quarter. Vanguard Group Inc. now owns 2,986,161 shares of the savings and loans company’s stock valued at $52,645,000 after acquiring an additional 147,515 shares during the last quarter. EJF Capital LLC increased its position in shares of OceanFirst Financial by 256.2% during the second quarter. EJF Capital LLC now owns 172,545 shares of the savings and loans company’s stock valued at $3,042,000 after acquiring an additional 124,111 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of OceanFirst Financial during the third quarter valued at approximately $1,346,000. Finally, Nuveen Asset Management LLC increased its position in shares of OceanFirst Financial by 20.2% during the second quarter. Nuveen Asset Management LLC now owns 569,980 shares of the savings and loans company’s stock valued at $10,048,000 after acquiring an additional 95,684 shares during the last quarter. 55.65% of the stock is owned by institutional investors.

In related news, Director Nicos Katsoulis acquired 1,900 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of $14.76 per share, for a total transaction of $28,044.00. Corporate insiders own 3.80% of the company’s stock.

A number of brokerages recently commented on OCFC. Zacks Investment Research raised OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Thursday, October 15th. ValuEngine raised OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. Piper Sandler reduced their target price on OceanFirst Financial from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, September 28th. Raymond James decreased their price target on OceanFirst Financial from $21.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Monday, November 2nd. Finally, BidaskClub upgraded shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Thursday, December 10th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $20.00.

OCFC opened at $18.63 on Friday. OceanFirst Financial Corp. has a 12-month low of $11.60 and a 12-month high of $25.58. The stock has a fifty day simple moving average of $17.27 and a two-hundred day simple moving average of $16.11. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 19.61 and a beta of 0.94. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

OceanFirst Financial Profile

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides community banking services. The company accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers.

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Institutional Ownership by Quarter for OceanFirst Financial (NASDAQ:OCFC)

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