Keeley Teton Advisors LLC lowered its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 17.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 556,546 shares of the savings and loans company’s stock after selling 113,656 shares during the period. Keeley Teton Advisors LLC owned about 1.71% of OceanFirst Financial worth $15,299,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Comerica Bank lifted its holdings in shares of OceanFirst Financial by 0.4% in the second quarter. Comerica Bank now owns 51,508 shares of the savings and loans company’s stock valued at $1,390,000 after purchasing an additional 225 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of OceanFirst Financial by 6.8% in the first 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 in the last quarter. Voya Investment Management LLC lifted its holdings in shares of OceanFirst Financial by 13.3% in the second quarter. Voya Investment Management LLC now owns 14,308 shares of the savings and loans company’s stock valued at $388,000 after purchasing an additional 1,683 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of OceanFirst Financial by 80.5% in the second quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock valued at $102,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of OceanFirst Financial by 6.6% in the second quarter. Strs Ohio now owns 29,200 shares of the savings and loans company’s stock valued at $791,000 after purchasing an additional 1,800 shares in the last quarter. 70.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Steven E. Brady sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total value of $77,420.00. Following the completion of the transaction, the director now owns 72,562 shares of the company’s stock, valued at $2,006,339.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.00% of the company’s stock.
OceanFirst Financial Corp. (OCFC) opened at $28.00 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $921.43, a P/E ratio of 17.35, a PEG ratio of 1.66 and a beta of 0.60. OceanFirst Financial Corp. has a 52-week low of $24.02 and a 52-week high of $30.70.
OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $50.42 million during the quarter, compared to analyst estimates of $50.41 million. OceanFirst Financial had a net margin of 18.59% and a return on equity of 8.87%. analysts forecast that OceanFirst Financial Corp. will post 1.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Friday, November 3rd. OceanFirst Financial’s dividend payout ratio is presently 50.00%.
OCFC has been the topic of several recent research reports. BidaskClub downgraded shares of OceanFirst Financial from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research raised shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, September 5th. Sandler O’Neill raised shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, September 20th. DA Davidson initiated coverage on shares of OceanFirst Financial in a research report on Thursday, September 21st. They issued a “buy” rating and a $31.00 price objective for the company. Finally, Hovde Group initiated coverage on shares of OceanFirst Financial in a research report on Monday, October 9th. They issued an “outperform” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.00.
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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