Endeavour Capital Advisors Inc. Sells 97,094 Shares of OceanFirst Financial Corp. $OCFC

Endeavour Capital Advisors Inc. trimmed its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 799,997 shares of the savings and loans company’s stock after selling 97,094 shares during the quarter. OceanFirst Financial comprises approximately 4.0% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 9th biggest position. Endeavour Capital Advisors Inc. owned approximately 1.39% of OceanFirst Financial worth $14,360,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of OceanFirst Financial by 97.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,388,304 shares of the savings and loans company’s stock valued at $41,963,000 after buying an additional 1,181,553 shares in the last quarter. Kestrel Investment Management Corp acquired a new stake in OceanFirst Financial during the 3rd quarter worth $3,587,000. Royce & Associates LP lifted its position in OceanFirst Financial by 13.0% in the third quarter. Royce & Associates LP now owns 1,662,653 shares of the savings and loans company’s stock valued at $29,213,000 after acquiring an additional 191,383 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in OceanFirst Financial by 45.4% in the third quarter. Russell Investments Group Ltd. now owns 394,439 shares of the savings and loans company’s stock valued at $6,930,000 after acquiring an additional 123,150 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in OceanFirst Financial by 8.6% in the fourth quarter. Systematic Financial Management LP now owns 1,202,031 shares of the savings and loans company’s stock valued at $21,576,000 after acquiring an additional 95,061 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

OceanFirst Financial Price Performance

Shares of OCFC opened at $18.72 on Tuesday. OceanFirst Financial Corp. has a fifty-two week low of $16.09 and a fifty-two week high of $20.61. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.00 and a beta of 1.01. The firm has a 50-day simple moving average of $18.48 and a 200-day simple moving average of $18.67. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 1.00.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $103.20 million for the quarter, compared to analysts’ expectations of $143.25 million. OceanFirst Financial had a return on equity of 5.35% and a net margin of 10.04%. On average, equities research analysts anticipate that OceanFirst Financial Corp. will post 1.83 earnings per share for the current year.

OceanFirst Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. OceanFirst Financial’s payout ratio is presently 68.38%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OCFC shares. Wall Street Zen raised OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 28th. DA Davidson raised their price target on OceanFirst Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of OceanFirst Financial in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.67.

OceanFirst Financial Company Profile

OceanFirst Financial Corporation (NASDAQ: OCFC) is a bank holding company headquartered in Toms River, New Jersey, that provides a full range of community banking and financial services through its principal subsidiary, OceanFirst Bank. Established in the early 20th century, the company has built its business around serving the deposit, lending and wealth management needs of individuals, small businesses, municipalities and nonprofit organizations across New Jersey and portions of New York.

The company’s core activities include accepting consumer and business deposits, making commercial, municipal and consumer loans, and offering residential mortgage financing.