First Trust Advisors LP increased its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 65.4% in the 4th quarter, HoldingsChannel reports. The fund owned 80,994 shares of the savings and loans company’s stock after purchasing an additional 32,027 shares during the period. First Trust Advisors LP’s holdings in OceanFirst Financial were worth $2,126,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in OCFC. State Street Corp lifted its stake in 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 acquiring an additional 111,891 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in OceanFirst Financial by 7.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,442,218 shares of the savings and loans company’s stock worth $39,647,000 after acquiring an additional 97,697 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in OceanFirst Financial in the 3rd quarter worth about $1,734,000. Citadel Advisors LLC lifted its stake in OceanFirst Financial by 127.3% in the 3rd quarter. Citadel Advisors LLC now owns 88,126 shares of the savings and loans company’s stock worth $2,422,000 after acquiring an additional 49,363 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in OceanFirst Financial by 20.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 148,946 shares of the savings and loans company’s stock worth $3,910,000 after acquiring an additional 25,374 shares in the last quarter. 50.88% of the stock is owned by hedge funds and other institutional investors.
OceanFirst Financial Corp. (NASDAQ:OCFC) opened at $27.99 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.92. OceanFirst Financial Corp. has a 52-week low of $24.02 and a 52-week high of $29.46. The firm has a market capitalization of $1,327.83, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57.
OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. OceanFirst Financial had a return on equity of 9.48% and a net margin of 19.67%. The company had revenue of $49.25 million for the quarter, compared to analyst estimates of $50.52 million. sell-side analysts anticipate that OceanFirst Financial Corp. will post 1.95 earnings per share for the current year.
Several brokerages recently issued reports on OCFC. BidaskClub downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. ValuEngine raised OceanFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $37.00 target price on shares of OceanFirst Financial in a research report on Friday, December 22nd. Finally, Zacks Investment Research lowered OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $31.83.
In other OceanFirst Financial news, Director Steven E. Brady sold 20,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $26.02, for a total value of $520,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Joseph R. Iantosca sold 5,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $26.40, for a total value of $132,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,995 shares of company stock worth $732,065. Insiders own 7.00% of the company’s stock.
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OceanFirst Financial Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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