OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Bought by Boston Partners

Boston Partners grew its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 733,190 shares of the savings and loans company’s stock after buying an additional 20,249 shares during the period. Boston Partners owned 1.25% of OceanFirst Financial worth $13,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC raised its holdings in OceanFirst Financial by 0.7% in the 3rd quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company’s stock valued at $1,329,000 after acquiring an additional 494 shares during the last quarter. Foundry Partners LLC grew its position in shares of OceanFirst Financial by 8.5% in the third quarter. Foundry Partners LLC now owns 14,564 shares of the savings and loans company’s stock valued at $271,000 after purchasing an additional 1,145 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of OceanFirst Financial by 1,036.4% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 1,337 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in OceanFirst Financial by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company’s stock worth $57,000 after buying an additional 1,379 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in OceanFirst Financial by 2.0% during the fourth quarter. Rhumbline Advisers now owns 94,274 shares of the savings and loans company’s stock worth $1,706,000 after buying an additional 1,863 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Stock Performance

Shares of OCFC stock opened at $17.17 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a market cap of $1.01 billion, a P/E ratio of 10.41 and a beta of 1.03. The firm’s 50 day moving average price is $17.90 and its 200-day moving average price is $18.44. OceanFirst Financial Corp. has a one year low of $14.03 and a one year high of $21.87.

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

OceanFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 4.66%. OceanFirst Financial’s dividend payout ratio (DPR) is presently 48.48%.

Wall Street Analysts Forecast Growth

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

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.