Comerica Bank increased its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,408 shares of the savings and loans company’s stock after acquiring an additional 1,900 shares during the quarter. Comerica Bank owned about 0.16% of OceanFirst Financial worth $1,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Sei Investments Co. increased its stake in shares of OceanFirst Financial by 80.5% in the 2nd quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock worth $102,000 after acquiring an additional 1,684 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in OceanFirst Financial by 2,366.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after purchasing an additional 3,786 shares during the last quarter. Legal & General Group Plc grew its position in OceanFirst Financial by 6.8% during the 1st quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 418 shares during the last quarter. Jennison Associates LLC purchased a new stake in OceanFirst Financial during the 3rd quarter valued at about $303,000. Finally, Voya Investment Management LLC grew its position in OceanFirst Financial by 13.3% during the 2nd quarter. Voya Investment Management LLC now owns 14,308 shares of the savings and loans company’s stock valued at $388,000 after purchasing an additional 1,683 shares during the last quarter. Institutional investors own 70.93% of the company’s stock.
Shares of OceanFirst Financial Corp. (NASDAQ OCFC) opened at $27.95 on Friday. OceanFirst Financial Corp. has a 1 year low of $24.02 and a 1 year high of $30.70. The company has a market cap of $904.16, a PE ratio of 17.02, a P/E/G ratio of 1.63 and a beta of 0.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94.
The business also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, November 3rd. OceanFirst Financial’s payout ratio is presently 50.00%.
Several brokerages recently commented on OCFC. ValuEngine raised shares of OceanFirst Financial from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Piper Jaffray Companies reissued a “buy” rating and set a $31.00 price objective on shares of OceanFirst Financial in a research report on Friday, October 27th. Hovde Group began coverage on shares of OceanFirst Financial in a research report on Monday, October 9th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, DA Davidson began coverage on shares of OceanFirst Financial in a research report on Thursday, September 21st. They set a “buy” rating and a $31.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.00.
In other news, Director Steven E. Brady sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the sale, the director now owns 72,562 shares of the company’s stock, valued at approximately $2,006,339.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.00% of the company’s stock.
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OceanFirst Financial Profile
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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