Victory Capital Management Inc. boosted its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) by 615.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,191 shares of the savings and loans company’s stock after purchasing an additional 248,768 shares during the quarter. Victory Capital Management Inc. owned about 0.49% of OceanFirst Financial worth $5,391,000 as of its most recent SEC filing.
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A number of other hedge funds also recently bought and sold shares of OCFC. SeaCrest Wealth Management LLC purchased a new stake in shares of OceanFirst Financial in the second quarter valued at $41,000. Wipfli Financial Advisors LLC purchased a new stake in shares of OceanFirst Financial in the third quarter valued at $46,000. Great West Life Assurance Co. Can raised its stake in shares of OceanFirst Financial by 23.0% in the first quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock valued at $103,000 after acquiring an additional 919 shares during the period. Amalgamated Bank purchased a new stake in shares of OceanFirst Financial in the first quarter valued at $141,000. Finally, Dark Forest Capital Management LP raised its stake in shares of OceanFirst Financial by 9.3% in the second quarter. Dark Forest Capital Management LP now owns 8,385 shares of the savings and loans company’s stock valued at $160,000 after acquiring an additional 714 shares during the period. Hedge funds and other institutional investors own 69.77% of the company’s stock.
OceanFirst Financial Stock Down 0.1 %
Shares of OceanFirst Financial stock opened at $23.33 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. OceanFirst Financial Corp. has a 1 year low of $18.24 and a 1 year high of $24.02. The firm’s 50-day moving average is $22.14 and its two-hundred day moving average is $21.16. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 9.64 and a beta of 0.88.
OceanFirst Financial (NASDAQ:OCFC – Get Rating) last issued its earnings results on Thursday, January 19th. The savings and loans company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. OceanFirst Financial had a net margin of 29.90% and a return on equity of 9.30%. The company had revenue of $134.04 million for the quarter, compared to analysts’ expectations of $110.75 million. As a group, research analysts expect that OceanFirst Financial Corp. will post 2.7 earnings per share for the current fiscal year.
OceanFirst Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Monday, February 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, February 3rd. OceanFirst Financial’s payout ratio is 33.06%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Piper Sandler cut shares of OceanFirst Financial from an “overweight” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Monday, December 12th. StockNews.com upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Monday, January 23rd.
About OceanFirst Financial
OceanFirst Financial Corp. operates as a savings and loan holding company, which engages in the provision of financial services. Its subsidiary OceanFirst Bank, offers commercial and residential financing solutions, wealth management, and deposit services. It has retail branches throughout the state and in metropolitan New York City along with loan production offices in New Jersey, New York City and Pennsylvania.
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