10,846 Shares in OceanFirst Financial Corp. (NASDAQ:OCFC) Bought by Captrust Financial Advisors

Captrust Financial Advisors acquired a new position in OceanFirst Financial Corp. (NASDAQ:OCFC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,846 shares of the savings and loans company’s stock, valued at approximately $202,000.

A number of other large investors have also recently bought and sold shares of OCFC. Royce & Associates LP boosted its holdings in OceanFirst Financial by 43.7% during the third quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company’s stock valued at $13,635,000 after acquiring an additional 223,203 shares during the period. American Century Companies Inc. boosted its holdings in OceanFirst Financial by 20.8% during the second quarter. American Century Companies Inc. now owns 956,320 shares of the savings and loans company’s stock valued at $15,196,000 after acquiring an additional 164,626 shares during the period. AQR Capital Management LLC boosted its holdings in OceanFirst Financial by 24.4% during the second quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock valued at $12,828,000 after acquiring an additional 158,590 shares during the period. Thrivent Financial for Lutherans boosted its holdings in OceanFirst Financial by 32.6% during the second quarter. Thrivent Financial for Lutherans now owns 272,243 shares of the savings and loans company’s stock valued at $4,326,000 after acquiring an additional 66,918 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its holdings in OceanFirst Financial by 105.9% during the second quarter. Cornercap Investment Counsel Inc. now owns 69,981 shares of the savings and loans company’s stock valued at $1,112,000 after acquiring an additional 35,994 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler set a $17.00 price target on shares of OceanFirst Financial and gave the company a “neutral” rating in a report on Friday, October 18th. Hovde Group upped their price objective on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.42.

OceanFirst Financial Stock Performance

NASDAQ:OCFC opened at $19.54 on Tuesday. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-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 firm has a market capitalization of $1.14 billion, a PE ratio of 11.15 and a beta of 1.04. The firm has a 50-day moving average price of $19.45 and a 200 day moving average price of $17.60.

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

OceanFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.09%. The ex-dividend date was Monday, November 4th. OceanFirst Financial’s dividend payout ratio (DPR) is presently 45.71%.

Insider Transactions at OceanFirst Financial

In other news, Director Joseph M. Jr. Murphy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.03, for a total transaction of $30,045.00. Following the completion of the sale, the director now owns 177,417 shares of the company’s stock, valued at approximately $3,553,662.51. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

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.