Two Sigma Advisers LP Sells 14,200 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

Two Sigma Advisers LP cut its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,900 shares of the savings and loans company’s stock after selling 14,200 shares during the quarter. Two Sigma Advisers LP’s holdings in OceanFirst Financial were worth $5,591,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its position in OceanFirst Financial by 27.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 140,665 shares of the savings and loans company’s stock valued at $2,546,000 after buying an additional 30,373 shares during the period. Barclays PLC raised its position in OceanFirst Financial by 13.0% in the third quarter. Barclays PLC now owns 299,434 shares of the savings and loans company’s stock worth $5,566,000 after acquiring an additional 34,458 shares during the period. Ieq Capital LLC purchased a new position in OceanFirst Financial in the fourth quarter valued at about $446,000. Systematic Financial Management LP grew its position in shares of OceanFirst Financial by 5.2% during the 4th quarter. Systematic Financial Management LP now owns 964,646 shares of the savings and loans company’s stock valued at $17,460,000 after acquiring an additional 47,561 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of OceanFirst Financial during the 4th quarter valued at approximately $356,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Price Performance

OCFC opened at $16.62 on Friday. The firm has a 50-day moving average price of $16.49 and a 200-day moving average price of $17.91. OceanFirst Financial Corp. has a twelve month low of $14.03 and a twelve month high of $21.87. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $970.34 million, a price-to-earnings ratio of 10.07 and a beta of 0.99.

OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. The company had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.66 million. Equities analysts expect that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Monday, May 5th. OceanFirst Financial’s payout ratio is currently 52.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OCFC shares. Keefe, Bruyette & Woods lowered their price target on shares of OceanFirst Financial from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Hovde Group decreased their target price on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, January 27th. Finally, Raymond James dropped their price target on OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.67.

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.