GW&K Investment Management LLC lowered its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC – Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,252,035 shares of the savings and loans company’s stock after selling 29,835 shares during the period. GW&K Investment Management LLC’s holdings in OceanFirst Financial were worth $22,474,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in OceanFirst Financial by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,193 shares of the savings and loans company’s stock valued at $582,000 after buying an additional 1,461 shares during the period. Empowered Funds LLC lifted its stake in OceanFirst Financial by 5.5% in the 1st quarter. Empowered Funds LLC now owns 140,481 shares of the savings and loans company’s stock worth $2,390,000 after acquiring an additional 7,359 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in OceanFirst Financial by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,122 shares of the savings and loans company’s stock worth $2,417,000 after acquiring an additional 11,262 shares during the period. Jane Street Group LLC grew its stake in OceanFirst Financial by 107.0% during the 1st quarter. Jane Street Group LLC now owns 88,353 shares of the savings and loans company’s stock valued at $1,503,000 after acquiring an additional 45,673 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of OceanFirst Financial by 15.6% in the 2nd quarter. Prudential Financial Inc. now owns 24,450 shares of the savings and loans company’s stock valued at $431,000 after purchasing an additional 3,295 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.
OceanFirst Financial Stock Up 1.0%
Shares of OceanFirst Financial stock opened at $18.29 on Thursday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 15.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.00 and a quick ratio of 1.00. OceanFirst Financial Corp. has a 52-week low of $16.09 and a 52-week high of $20.61. The stock has a 50-day simple moving average of $18.62 and a 200-day simple moving average of $18.71.
OceanFirst Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, April 27th. OceanFirst Financial’s dividend payout ratio (DPR) is 68.38%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on OCFC shares. DA Davidson increased their price target on shares of OceanFirst Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of OceanFirst Financial in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, OceanFirst Financial presently has an average rating of “Hold” and an average target price of $21.67.
View Our Latest Stock Report on OCFC
About OceanFirst Financial
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.
Featured Articles
- Five stocks we like better than OceanFirst Financial
- Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
- This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
- Intel Is the Market’s Most Mispriced AI Hedge
- The Biggest Opportunity From SpaceX’s IPO May Surprise You
Want to see what other hedge funds are holding OCFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OceanFirst Financial Corp. (NASDAQ:OCFC – Free Report).
Receive News & Ratings for OceanFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.
