UBS Group AG grew its stake in OceanFirst Financial Corp. (NASDAQ:OCFC – Free Report) by 66.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,402 shares of the savings and loans company’s stock after purchasing an additional 66,185 shares during the period. UBS Group AG’s holdings in OceanFirst Financial were worth $2,969,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of OceanFirst Financial by 458.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,526 shares of the savings and loans company’s stock valued at $150,000 after purchasing an additional 6,998 shares during the last quarter. Byrne Asset Management LLC bought a new stake in shares of OceanFirst Financial in the 4th quarter valued at approximately $155,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of OceanFirst Financial by 7.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,285 shares of the savings and loans company’s stock valued at $181,000 after purchasing an additional 673 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of OceanFirst Financial by 7.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the savings and loans company’s stock valued at $206,000 after purchasing an additional 811 shares during the last quarter. Finally, Ledyard National Bank bought a new stake in shares of OceanFirst Financial in the 3rd quarter valued at approximately $210,000. 70.98% of the stock is owned by institutional investors.
OceanFirst Financial Price Performance
Shares of OCFC stock opened at $18.72 on Tuesday. OceanFirst Financial Corp. has a 52-week low of $16.09 and a 52-week high of $20.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.00 and a beta of 1.01. The stock has a 50 day moving average price of $18.48 and a 200 day moving average price of $18.67.
OceanFirst Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, April 27th. OceanFirst Financial’s dividend payout ratio (DPR) is currently 68.38%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. DA Davidson raised their price objective on OceanFirst Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Wall Street Zen raised OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of OceanFirst Financial in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, OceanFirst Financial has an average rating of “Hold” and an average price target of $21.67.
View Our Latest Report on OCFC
OceanFirst Financial Profile
OceanFirst Financial Corporation (NASDAQ: OCFC) is a bank holding company headquartered in Toms River, New Jersey, that provides a full range of community banking and financial services through its principal subsidiary, OceanFirst Bank. Established in the early 20th century, the company has built its business around serving the deposit, lending and wealth management needs of individuals, small businesses, municipalities and nonprofit organizations across New Jersey and portions of New York.
The company’s core activities include accepting consumer and business deposits, making commercial, municipal and consumer loans, and offering residential mortgage financing.
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