Quantamental Technologies LLC Makes New $36,000 Investment in OceanFirst Financial Corp. (NASDAQ:OCFC)

Quantamental Technologies LLC bought a new position in OceanFirst Financial Corp. (NASDAQ:OCFC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,467 shares of the savings and loans company’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in OceanFirst Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,871,011 shares of the savings and loans company’s stock worth $64,627,000 after acquiring an additional 103,224 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of OceanFirst Financial by 1.1% in the second quarter. Schroder Investment Management Group now owns 836,473 shares of the savings and loans company’s stock valued at $20,786,000 after purchasing an additional 9,093 shares during the period. Emerald Advisers LLC increased its stake in shares of OceanFirst Financial by 26.2% in the second quarter. Emerald Advisers LLC now owns 746,111 shares of the savings and loans company’s stock valued at $18,541,000 after purchasing an additional 154,764 shares during the period. OppenheimerFunds Inc. increased its stake in shares of OceanFirst Financial by 2.1% in the first quarter. OppenheimerFunds Inc. now owns 713,245 shares of the savings and loans company’s stock valued at $17,161,000 after purchasing an additional 14,436 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of OceanFirst Financial by 19.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 688,829 shares of the savings and loans company’s stock valued at $17,117,000 after purchasing an additional 111,077 shares during the period. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered shares of OceanFirst Financial from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $29.00 to $26.50 in a research note on Monday, July 29th. Sandler O’Neill lowered shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. BidaskClub upgraded shares of OceanFirst Financial from a “strong sell” rating to a “sell” rating in a research report on Thursday. DA Davidson lowered shares of OceanFirst Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $21.50 in a research report on Monday, August 12th. Finally, Raymond James upgraded shares of OceanFirst Financial from an “outperform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Thursday, August 29th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.60.

OceanFirst Financial stock traded up $0.25 during midday trading on Friday, reaching $23.62. The stock had a trading volume of 198,231 shares, compared to its average volume of 234,082. The firm’s fifty day simple moving average is $22.22 and its two-hundred day simple moving average is $24.09. OceanFirst Financial Corp. has a twelve month low of $20.46 and a twelve month high of $28.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.13 and a beta of 0.78.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, July 25th. The savings and loans company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). OceanFirst Financial had a return on equity of 9.53% and a net margin of 27.15%. The firm had revenue of $74.72 million during the quarter, compared to analyst estimates of $77.38 million. As a group, sell-side analysts predict that OceanFirst Financial Corp. will post 2.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $0.17 dividend. This is a positive change from OceanFirst Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.88%. OceanFirst Financial’s dividend payout ratio (DPR) is currently 34.34%.

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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Institutional Ownership by Quarter for OceanFirst Financial (NASDAQ:OCFC)

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