Insider Selling: OceanFirst Financial Corp. (NASDAQ:OCFC) Director Sells $1,236,600.00 in Stock

OceanFirst Financial Corp. (NASDAQ:OCFCGet Rating) Director Michael D. Devlin sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $20.61, for a total value of $1,236,600.00. Following the transaction, the director now owns 52,114 shares in the company, valued at $1,074,069.54. The sale was disclosed in a document filed with the SEC, which is available at this link.

OceanFirst Financial Trading Up 1.4 %

Shares of OCFC opened at $20.87 on Friday. The business has a 50-day moving average of $19.61 and a 200 day moving average of $20.35. OceanFirst Financial Corp. has a fifty-two week low of $18.24 and a fifty-two week high of $24.25. The firm has a market cap of $1.24 billion, a P/E ratio of 12.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.92.

OceanFirst Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.80 annualized dividend and a yield of 3.83%. This is a positive change from OceanFirst Financial’s previous quarterly dividend of $0.17. OceanFirst Financial’s dividend payout ratio (DPR) is 41.21%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OCFC shares. DA Davidson restated a “buy” rating on shares of OceanFirst Financial in a research note on Wednesday, July 27th. StockNews.com lowered OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st.

Institutional Investors Weigh In On OceanFirst Financial

Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in OceanFirst Financial in the 4th quarter worth about $37,000. Norwood Financial Corp purchased a new position in OceanFirst Financial during the 4th quarter valued at about $49,000. Masso Torrence Wealth Management Inc. purchased a new position in OceanFirst Financial during the 4th quarter valued at about $67,000. Great West Life Assurance Co. Can grew its holdings in OceanFirst Financial by 23.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock valued at $103,000 after buying an additional 919 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in OceanFirst Financial during the 1st quarter valued at about $141,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.

About OceanFirst Financial

(Get Rating)

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers.

Further Reading

Insider Buying and Selling by Quarter for OceanFirst Financial (NASDAQ:OCFC)

Receive News & Ratings for OceanFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.