OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Bought by Boston Partners

Boston Partners grew its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 733,190 shares of the savings and loans company’s stock after acquiring an additional 20,249 shares during the period. Boston Partners’ holdings in OceanFirst Financial were worth $13,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its holdings in OceanFirst Financial by 1,036.4% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock valued at $27,000 after buying an additional 1,337 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of OceanFirst Financial in the 3rd quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of OceanFirst Financial by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company’s stock valued at $57,000 after buying an additional 1,379 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of OceanFirst Financial in the 4th quarter valued at $65,000. Finally, Global Retirement Partners LLC raised its stake in OceanFirst Financial by 1,009.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company’s stock worth $100,000 after acquiring an additional 5,048 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stephens restated an “equal weight” rating and issued a $22.00 price objective on shares of OceanFirst Financial in a research note on Friday, January 24th. DA Davidson reissued a “neutral” rating and issued a $22.00 target price on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Raymond James raised OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Hovde Group lowered their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.83.

OceanFirst Financial Trading Up 0.6 %

NASDAQ:OCFC opened at $17.17 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $17.90 and its 200-day simple moving average is $18.44. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-month high of $21.87. The firm has a market cap of $1.01 billion, a P/E ratio of 10.41 and a beta of 1.03.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Equities analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, February 3rd. OceanFirst Financial’s dividend payout ratio is presently 48.48%.

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.