Victory Capital Management Inc. Has $212,000 Stock Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Victory Capital Management Inc. lessened its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 19.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,392 shares of the savings and loans company’s stock after selling 2,741 shares during the period. Victory Capital Management Inc.’s holdings in OceanFirst Financial were worth $212,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in OCFC. Innealta Capital LLC acquired a new stake in shares of OceanFirst Financial in the 2nd quarter valued at $25,000. Capital Performance Advisors LLP bought a new position in shares of OceanFirst Financial in the third quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of OceanFirst Financial in the second quarter valued at about $62,000. CWM LLC raised its holdings in shares of OceanFirst Financial by 437.0% in the second quarter. CWM LLC now owns 10,525 shares of the savings and loans company’s stock valued at $167,000 after buying an additional 8,565 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in shares of OceanFirst Financial in the second quarter valued at about $172,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at OceanFirst Financial

In related news, Director Joseph M. Jr. Murphy sold 1,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.03, for a total value of $30,045.00. Following the sale, the director now owns 177,417 shares in the company, valued at approximately $3,553,662.51. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.00% of the company’s stock.

OceanFirst Financial Trading Down 0.8 %

NASDAQ:OCFC opened at $20.68 on Friday. OceanFirst Financial Corp. has a twelve month low of $13.68 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 business has a 50 day moving average price of $19.03 and a two-hundred day moving average price of $17.26. The company has a market cap of $1.21 billion, a P/E ratio of 11.82 and a beta of 1.01.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $92.79 million. As a group, analysts expect that OceanFirst Financial Corp. will post 1.59 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Monday, November 4th. OceanFirst Financial’s dividend payout ratio is currently 45.71%.

Analysts Set New Price Targets

OCFC has been the subject of several recent research reports. Hovde Group boosted their price objective on OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler set a $17.00 price objective on OceanFirst Financial and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, DA Davidson boosted their price objective on OceanFirst Financial from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.75.

OceanFirst Financial Company 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.