Clover Partners L.P. purchased a new position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 146,608 shares of the savings and loans company’s stock, valued at approximately $3,848,000. OceanFirst Financial comprises 3.7% of Clover Partners L.P.’s investment portfolio, making the stock its 10th biggest position. Clover Partners L.P. owned approximately 0.45% of OceanFirst Financial as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in OCFC. California Public Employees Retirement System boosted its holdings in shares of OceanFirst Financial by 10.5% during the 3rd quarter. California Public Employees Retirement System now owns 52,115 shares of the savings and loans company’s stock worth $1,433,000 after buying an additional 4,961 shares during the period. Commonwealth Equity Services Inc boosted its holdings in shares of OceanFirst Financial by 49.9% during the 3rd quarter. Commonwealth Equity Services Inc now owns 53,612 shares of the savings and loans company’s stock worth $1,473,000 after buying an additional 17,837 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of OceanFirst Financial during the 4th quarter worth $576,000. MayTech Global Investments LLC bought a new stake in shares of OceanFirst Financial during the 4th quarter worth $2,113,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of OceanFirst Financial during the 3rd quarter worth $366,000. Institutional investors own 75.10% of the company’s stock.
In other news, Director Steven E. Brady sold 20,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $26.02, for a total value of $520,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Angelo Catania sold 1,505 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $26.47, for a total transaction of $39,837.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,995 shares of company stock valued at $732,065. Insiders own 7.00% of the company’s stock.
Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) opened at $27.81 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.59. OceanFirst Financial Corp. has a 1-year low of $24.02 and a 1-year high of $29.51. The firm has a market cap of $1,343.66, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57.
OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. OceanFirst Financial had a net margin of 19.67% and a return on equity of 9.48%. The firm had revenue of $49.25 million during the quarter, compared to the consensus estimate of $50.52 million. equities research analysts predict that OceanFirst Financial Corp. will post 1.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, February 2nd. OceanFirst Financial’s dividend payout ratio (DPR) is presently 46.88%.
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OceanFirst Financial Profile
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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