Thomson Horstmann & Bryant Inc. lessened its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 79.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,749 shares of the savings and loans company’s stock after selling 102,476 shares during the quarter. Thomson Horstmann & Bryant Inc.’s holdings in OceanFirst Financial were worth $728,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of OCFC. SG Americas Securities LLC lifted its holdings in OceanFirst Financial by 51.4% during the 2nd quarter. SG Americas Securities LLC now owns 6,159 shares of the savings and loans company’s stock worth $185,000 after buying an additional 2,092 shares during the last quarter. Sei Investments Co. lifted its holdings in OceanFirst Financial by 145.7% during the 2nd quarter. Sei Investments Co. now owns 9,326 shares of the savings and loans company’s stock worth $280,000 after buying an additional 5,530 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in OceanFirst Financial during the 3rd quarter worth approximately $257,000. GSA Capital Partners LLP bought a new position in OceanFirst Financial during the 2nd quarter worth approximately $304,000. Finally, WINTON GROUP Ltd lifted its holdings in OceanFirst Financial by 96.6% during the 3rd quarter. WINTON GROUP Ltd now owns 14,136 shares of the savings and loans company’s stock worth $385,000 after buying an additional 6,945 shares during the last quarter. Hedge funds and other institutional investors own 75.23% of the company’s stock.
A number of research analysts have commented on the company. ValuEngine downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. BidaskClub raised OceanFirst Financial from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $34.00.
OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, October 25th. The savings and loans company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $69.79 million during the quarter, compared to the consensus estimate of $74.31 million. OceanFirst Financial had a return on equity of 9.09% and a net margin of 19.35%. On average, research analysts forecast that OceanFirst Financial Corp. will post 2.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 16th. Investors of record on Monday, November 5th were issued a $0.17 dividend. This is an increase from OceanFirst Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, November 2nd. This represents a $0.68 annualized dividend and a dividend yield of 2.75%. OceanFirst Financial’s dividend payout ratio (DPR) is 40.00%.
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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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