OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC boosted its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 1,985.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,794 shares of the savings and loans company’s stock after purchasing an additional 289,230 shares during the period. Foundry Partners LLC’s holdings in OceanFirst Financial were worth $5,499,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock valued at $27,000 after buying an additional 1,337 shares during the last quarter. Point72 DIFC Ltd bought a new position in OceanFirst Financial during the 3rd quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in OceanFirst Financial by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company’s stock worth $57,000 after acquiring an additional 1,379 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of OceanFirst Financial in the 4th quarter worth about $65,000. Finally, Global Retirement Partners LLC raised its stake in shares of OceanFirst Financial by 1,009.6% in the 4th quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company’s stock valued at $100,000 after purchasing an additional 5,048 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Hovde Group decreased their price target on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, January 27th. Stephens reissued an “equal weight” rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Friday, January 24th. Finally, Raymond James reduced their price objective on OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.00.

OceanFirst Financial Stock Down 3.1 %

Shares of OceanFirst Financial stock opened at $15.07 on Friday. The stock has a market capitalization of $882.45 million, a price-to-earnings ratio of 9.13 and a beta of 1.03. OceanFirst Financial Corp. has a twelve month low of $14.03 and a twelve month high of $21.87. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The business’s 50 day simple moving average is $17.50 and its 200-day simple moving average is $18.40.

OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. Equities research 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 announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s payout ratio is 48.48%.

OceanFirst Financial 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.