GSA Capital Partners LLP acquired a new stake in OceanFirst Financial Corp. (NASDAQ:OCFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,379 shares of the savings and loans company’s stock, valued at approximately $594,000. GSA Capital Partners LLP owned approximately 0.05% of OceanFirst Financial as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in OceanFirst Financial by 6.2% in the 4th quarter. BlackRock Inc. now owns 3,463,135 shares of the savings and loans company’s stock valued at $77,955,000 after purchasing an additional 201,750 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in OceanFirst Financial by 6.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,767,787 shares of the savings and loans company’s stock valued at $75,339,000 after purchasing an additional 155,482 shares in the last quarter. Vanguard Group Inc lifted its holdings in OceanFirst Financial by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 1,819,792 shares of the savings and loans company’s stock valued at $49,535,000 after purchasing an additional 42,882 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of OceanFirst Financial by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,819,792 shares of the savings and loans company’s stock worth $49,535,000 after acquiring an additional 42,882 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of OceanFirst Financial by 25.3% during the 3rd quarter. Brown Advisory Inc. now owns 1,262,633 shares of the savings and loans company’s stock worth $34,369,000 after acquiring an additional 254,634 shares during the period. Institutional investors own 76.66% of the company’s stock.
OCFC has been the topic of several analyst reports. Boenning Scattergood reiterated a “buy” rating and set a $28.00 price target on shares of OceanFirst Financial in a report on Friday, January 25th. ValuEngine upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Zacks Investment Research upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Finally, BidaskClub upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.60.
Shares of NASDAQ:OCFC opened at $24.40 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $1.19 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.76. OceanFirst Financial Corp. has a 12-month low of $21.30 and a 12-month high of $30.90.
OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, January 24th. The savings and loans company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The business had revenue of $70.59 million for the quarter, compared to analyst estimates of $72.11 million. OceanFirst Financial had a return on equity of 9.26% and a net margin of 23.09%. On average, sell-side analysts forecast that OceanFirst Financial Corp. will post 2.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Monday, February 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, February 1st. OceanFirst Financial’s payout ratio is 34.34%.
In related news, Director Michael D. Devlin sold 46,709 shares of the firm’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $25.07, for a total transaction of $1,170,994.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Grace Vallacchi sold 1,700 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $24.75, for a total value of $42,075.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,884 shares of company stock valued at $1,274,945 over the last three months. Corporate insiders own 3.80% of the company’s stock.
About OceanFirst Financial
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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