OceanFirst Financial Corp. (NASDAQ:OCFC) Stock Holdings Lifted by Trexquant Investment LP

Trexquant Investment LP raised its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) by 59.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,653 shares of the savings and loans company's stock after buying an additional 43,019 shares during the quarter. Trexquant Investment LP owned 0.20% of OceanFirst Financial worth $2,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of OceanFirst Financial by 1,036.4% in the 4th 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 in the last quarter. Point72 DIFC Ltd bought a new stake in shares of OceanFirst Financial in the third quarter valued at approximately $41,000. Venturi Wealth Management LLC bought a new stake in OceanFirst Financial in the 4th quarter valued at $65,000. Global Retirement Partners LLC grew its position in OceanFirst Financial by 1,009.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company's stock worth $100,000 after buying an additional 5,048 shares in the last quarter. Finally, EMC Capital Management increased its position in shares of OceanFirst Financial by 6,001.3% during the fourth quarter. EMC Capital Management now owns 9,152 shares of the savings and loans company's stock valued at $166,000 after purchasing an additional 9,002 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

OceanFirst Financial Stock Performance

NASDAQ OCFC opened at $14.86 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-month high of $21.87. The company has a market capitalization of $870.16 million, a P/E ratio of 9.01 and a beta of 0.94. The firm has a 50-day moving average price of $17.28 and a two-hundred day moving average price of $18.33.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 5.38%. OceanFirst Financial's payout ratio is currently 48.48%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OCFC. Raymond James lowered their price objective on OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Hovde Group dropped their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and issued a $22.00 price target on shares of OceanFirst Financial in a report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.00.

Read Our Latest Stock Report on OceanFirst Financial

About OceanFirst Financial

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.

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