OceanFirst Financial Corp. (NASDAQ:OCFC) EVP Brian Schaeffer Sells 3,500 Shares of Stock

OceanFirst Financial Corp. (NASDAQ:OCFC) EVP Brian Schaeffer sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.49, for a total transaction of $54,215.00. Following the transaction, the executive vice president now directly owns 41,868 shares of the company’s stock, valued at $648,535.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

OceanFirst Financial Stock Performance

NASDAQ:OCFC opened at $15.58 on Thursday. The stock has a 50 day simple moving average of $15.32 and a 200 day simple moving average of $15.49. The stock has a market cap of $914.70 million, a P/E ratio of 9.11 and a beta of 1.01. OceanFirst Financial Corp. has a 1-year low of $12.01 and a 1-year high of $19.58. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67.

OceanFirst Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $0.20 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.13%. OceanFirst Financial’s payout ratio is presently 46.78%.

Hedge Funds Weigh In On OceanFirst Financial

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in shares of OceanFirst Financial during the 3rd quarter worth approximately $34,000. International Assets Investment Management LLC grew its holdings in shares of OceanFirst Financial by 1,240.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock worth $60,000 after purchasing an additional 3,213 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of OceanFirst Financial by 19.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock worth $139,000 after purchasing an additional 1,550 shares during the period. ProShare Advisors LLC bought a new stake in OceanFirst Financial during the first quarter worth about $172,000. Finally, SG Americas Securities LLC acquired a new stake in OceanFirst Financial during the third quarter worth about $176,000. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

About OceanFirst Financial

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.