OceanFirst Financial Corp. (NASDAQ:OCFC) Stock Holdings Trimmed by Addison Capital Co

Addison Capital Co trimmed its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,588 shares of the savings and loans company’s stock after selling 5,469 shares during the quarter. Addison Capital Co owned approximately 0.25% of OceanFirst Financial worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP grew its holdings in shares of OceanFirst Financial by 4.1% during the fourth quarter. Royce & Associates LP now owns 763,840 shares of the savings and loans company’s stock valued at $13,826,000 after purchasing an additional 30,399 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in OceanFirst Financial by 30.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,017 shares of the savings and loans company’s stock worth $1,503,000 after acquiring an additional 19,478 shares during the period. Farther Finance Advisors LLC grew its stake in shares of OceanFirst Financial by 911.7% in the fourth quarter. Farther Finance Advisors LLC now owns 10,542 shares of the savings and loans company’s stock worth $191,000 after purchasing an additional 9,500 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of OceanFirst Financial by 85.3% during the fourth quarter. AlphaQuest LLC now owns 43,078 shares of the savings and loans company’s stock valued at $780,000 after purchasing an additional 19,827 shares during the period. Finally, Bailard Inc. raised its stake in shares of OceanFirst Financial by 5.2% during the fourth quarter. Bailard Inc. now owns 44,371 shares of the savings and loans company’s stock valued at $803,000 after purchasing an additional 2,200 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James upgraded shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Friday, January 24th. DA Davidson reiterated a “neutral” rating and issued a $22.00 target price on shares of OceanFirst Financial in a report on Wednesday, December 4th. Hovde Group reduced their target price on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.83.

OceanFirst Financial Stock Up 3.2 %

OceanFirst Financial stock opened at $17.31 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a fifty day moving average price of $17.97 and a two-hundred day moving average price of $18.47. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 10.49 and a beta of 1.03. OceanFirst Financial Corp. has a fifty-two week low of $14.03 and a fifty-two week high of $21.87.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. As a group, analysts forecast that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s dividend payout ratio is presently 48.48%.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.