Citadel Advisors LLC boosted its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 127.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,126 shares of the savings and loans company’s stock after purchasing an additional 49,363 shares during the period. Citadel Advisors LLC owned about 0.27% of OceanFirst Financial worth $2,422,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Sei Investments Co. increased its holdings in OceanFirst Financial by 80.5% during the 2nd quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock valued at $102,000 after purchasing an additional 1,684 shares during the period. BNP Paribas Arbitrage SA increased its holdings 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 period. SG Americas Securities LLC purchased a new position in OceanFirst Financial during the 3rd quarter valued at about $165,000. Legal & General Group Plc increased its holdings 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 period. Finally, Trexquant Investment LP purchased a new position in OceanFirst Financial during the 3rd quarter valued at about $201,000. Institutional investors own 70.93% of the company’s stock.
OceanFirst Financial Corp. (NASDAQ OCFC) opened at $27.95 on Monday. OceanFirst Financial Corp. has a twelve month low of $24.02 and a twelve month high of $30.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $910.68, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.60.
The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.15%. OceanFirst Financial’s dividend payout ratio (DPR) is 50.00%.
In other OceanFirst Financial news, Director Steven E. Brady sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total transaction of $77,420.00. Following the transaction, the director now owns 72,562 shares in the company, valued at approximately $2,006,339.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.00% of the stock is currently owned by corporate insiders.
OCFC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, September 26th. Hovde Group initiated coverage on OceanFirst Financial in a report on Monday, October 9th. They set an “outperform” rating and a $32.00 price target on the stock. BidaskClub downgraded OceanFirst Financial from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. ValuEngine downgraded OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, DA Davidson began coverage on OceanFirst Financial in a report on Thursday, September 21st. They set a “buy” rating and a $31.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. OceanFirst Financial presently has a consensus rating of “Buy” and a consensus target price of $31.00.
OceanFirst Financial Company 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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