OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its stake in OceanFirst Financial Corp. (NASDAQ:OCFC) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,665 shares of the savings and loans company’s stock after acquiring an additional 30,373 shares during the period. O Shaughnessy Asset Management LLC owned 0.24% of OceanFirst Financial worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc lifted its position in OceanFirst Financial by 1,036.4% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 1,337 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of OceanFirst Financial in the third quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in OceanFirst Financial by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company’s stock valued at $57,000 after buying an additional 1,379 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in OceanFirst Financial during the fourth quarter worth about $65,000. Finally, Global Retirement Partners LLC grew its holdings in OceanFirst Financial by 1,009.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company’s stock worth $100,000 after acquiring an additional 5,048 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OCFC. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Friday, January 24th. Hovde Group reduced their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, January 27th. Finally, Raymond James dropped their price target on OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

OceanFirst Financial Stock Performance

Shares of OceanFirst Financial stock opened at $15.55 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 12 month low of $14.03 and a 12 month high of $21.87. The business has a fifty day simple moving average of $17.57 and a 200-day simple moving average of $18.42. The stock has a market cap of $910.56 million, a PE ratio of 9.42 and a beta of 1.03.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s dividend payout ratio is currently 48.48%.

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.