Curi RMB Capital LLC Has $930,000 Position in OceanFirst Financial Corp. (NASDAQ:OCFC)

Curi RMB Capital LLC reduced its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the savings and loans company’s stock after selling 25,000 shares during the quarter. Curi RMB Capital LLC owned about 0.09% of OceanFirst Financial worth $930,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of OceanFirst Financial by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company’s stock worth $57,027,000 after buying an additional 105,764 shares during the period. Boston Partners grew its position in shares of OceanFirst Financial by 3.2% during the 1st quarter. Boston Partners now owns 1,391,127 shares of the savings and loans company’s stock worth $22,505,000 after buying an additional 42,966 shares during the period. American Century Companies Inc. grew its position in shares of OceanFirst Financial by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 956,320 shares of the savings and loans company’s stock worth $15,196,000 after buying an additional 164,626 shares during the period. AQR Capital Management LLC grew its position in shares of OceanFirst Financial by 24.4% during the 2nd quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock worth $12,828,000 after buying an additional 158,590 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of OceanFirst Financial by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 498,113 shares of the savings and loans company’s stock valued at $7,915,000 after purchasing an additional 21,765 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at OceanFirst Financial

In related news, Director Joseph M. Jr. Murphy sold 1,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.03, for a total value of $30,045.00. Following the sale, the director now owns 177,417 shares in the company, valued at approximately $3,553,662.51. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is owned by company insiders.

OceanFirst Financial Trading Up 0.1 %

NASDAQ:OCFC opened at $20.49 on Friday. OceanFirst Financial Corp. has a twelve month low of $13.41 and a twelve month high of $21.34. The company has a market cap of $1.20 billion, a P/E ratio of 11.71 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average price of $18.39 and a two-hundred day moving average price of $16.85.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $92.79 million. As a group, analysts expect that OceanFirst Financial Corp. will post 1.59 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, November 4th. OceanFirst Financial’s dividend payout ratio is currently 45.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OCFC. Piper Sandler set a $17.00 price objective on OceanFirst Financial and gave the company a “neutral” rating in a research report on Friday, October 18th. Hovde Group upped their price target on OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.30.

About OceanFirst Financial

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.