Brown Advisory Inc. raised its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 25.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,262,633 shares of the savings and loans company’s stock after buying an additional 254,634 shares during the quarter. Brown Advisory Inc. owned about 2.61% of OceanFirst Financial worth $34,369,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of OCFC. FMR LLC purchased a new position in OceanFirst Financial during the second quarter worth about $24,284,000. Schroder Investment Management Group purchased a new position in OceanFirst Financial during the second quarter worth about $19,975,000. BlackRock Inc. grew its position in OceanFirst Financial by 14.7% during the second quarter. BlackRock Inc. now owns 3,139,461 shares of the savings and loans company’s stock worth $94,058,000 after buying an additional 402,644 shares in the last quarter. Dimensional Fund Advisors LP grew its position in OceanFirst Financial by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,612,305 shares of the savings and loans company’s stock worth $78,265,000 after buying an additional 380,171 shares in the last quarter. Finally, Walthausen & Co. LLC purchased a new position in OceanFirst Financial during the third quarter worth about $9,544,000. Institutional investors and hedge funds own 75.23% of the company’s stock.
OCFC opened at $25.39 on Friday. OceanFirst Financial Corp. has a 12-month low of $23.97 and a 12-month high of $30.90. 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 capitalization of $1.23 billion, a PE ratio of 14.94, a PEG ratio of 1.27 and a beta of 0.56.
OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 25th. The savings and loans company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). OceanFirst Financial had a return on equity of 9.09% and a net margin of 19.35%. The firm had revenue of $69.79 million during the quarter, compared to analysts’ expectations of $74.31 million. As a group, equities research analysts expect that OceanFirst Financial Corp. will post 2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Monday, November 5th were issued a $0.17 dividend. This is a boost from OceanFirst Financial’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, November 2nd. OceanFirst Financial’s dividend payout ratio is presently 40.00%.
Several equities analysts recently commented on the company. BidaskClub upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Zacks Investment Research cut OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Finally, ValuEngine cut OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.00.
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OceanFirst Financial Profile
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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