OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 518,711 shares of the savings and loans company’s stock after selling 10,200 shares during the period. LSV Asset Management owned approximately 0.87% of OceanFirst Financial worth $9,005,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Boston Partners lifted its stake in OceanFirst Financial by 11.1% in the 3rd quarter. Boston Partners now owns 1,394,141 shares of the savings and loans company’s stock valued at $19,660,000 after buying an additional 139,646 shares in the last quarter. Eagle Wealth Strategies LLC acquired a new stake in shares of OceanFirst Financial in the fourth quarter worth approximately $946,000. GSA Capital Partners LLP purchased a new stake in shares of OceanFirst Financial during the third quarter worth approximately $1,015,000. Charles Schwab Investment Management Inc. raised its stake in OceanFirst Financial by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,344 shares of the savings and loans company’s stock valued at $10,062,000 after purchasing an additional 43,649 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in OceanFirst Financial in the 4th quarter valued at $1,701,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

OceanFirst Financial Trading Down 0.7 %

Shares of OceanFirst Financial stock opened at $15.51 on Wednesday. The firm has a market capitalization of $910.59 million, a price-to-earnings ratio of 9.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.00. OceanFirst Financial Corp. has a fifty-two week low of $12.01 and a fifty-two week high of $19.58. The stock has a 50 day moving average of $15.31 and a 200 day moving average of $15.49.

OceanFirst Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Friday, May 3rd. OceanFirst Financial’s dividend payout ratio (DPR) is presently 46.78%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OCFC shares. Raymond James reduced their target price on shares of OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 target price (down from $22.00) on shares of OceanFirst Financial in a research note on Monday, April 22nd. StockNews.com upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $20.00 price objective on shares of OceanFirst Financial in a research report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.20.

OceanFirst Financial Profile

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.