Jupiter Topco LLC acquired a new stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 36,388 shares of the savings and loans company’s stock, valued at approximately $711,000.
Several other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in OceanFirst Financial in the second quarter worth $27,000. GAMMA Investing LLC grew its holdings in shares of OceanFirst Financial by 174.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,918 shares of the savings and loans company’s stock valued at $37,000 after buying an additional 1,220 shares during the period. Quantbot Technologies LP acquired a new position in shares of OceanFirst Financial in the 2nd quarter valued at $85,000. Global Retirement Partners LLC bought a new stake in shares of OceanFirst Financial in the 2nd quarter valued at $103,000. Finally, Tower Research Capital LLC TRC increased its position 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 buying an additional 6,998 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.
Insider Transactions at OceanFirst Financial
In related news, EVP Brian Schaeffer sold 5,500 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $18.91, for a total transaction of $104,005.00. Following the completion of the transaction, the executive vice president directly owned 83,068 shares in the company, valued at approximately $1,570,815.88. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Buran sold 113,463 shares of OceanFirst Financial stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $19.40, for a total value of $2,201,182.20. The SEC filing for this sale provides additional information. Insiders own 5.40% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on OCFC
OceanFirst Financial Price Performance
Shares of OCFC stock opened at $19.43 on Monday. OceanFirst Financial Corp. has a 12-month low of $17.05 and a 12-month high of $20.61. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average of $19.35 and a 200-day moving average of $18.78. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 22.86 and a beta of 0.97.
OceanFirst Financial (NASDAQ:OCFC – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The savings and loans company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $131.33 million for the quarter, compared to analysts’ expectations of $135.62 million. OceanFirst Financial had a net margin of 6.38% and a return on equity of 5.34%. As a group, equities research analysts predict that OceanFirst Financial Corp. will post 1.81 earnings per share for the current fiscal year.
OceanFirst Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. OceanFirst Financial’s dividend payout ratio (DPR) is currently 94.12%.
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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