PNC Financial Services Group Inc. Has $309,000 Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

PNC Financial Services Group Inc. lessened its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,095 shares of the savings and loans company’s stock after selling 1,221 shares during the period. PNC Financial Services Group Inc.’s holdings in OceanFirst Financial were worth $309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after buying an additional 1,337 shares during the period. Point72 DIFC Ltd acquired a new stake in OceanFirst Financial during the 3rd quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. grew its stake in OceanFirst Financial by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company’s stock valued at $57,000 after acquiring an additional 1,379 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in OceanFirst Financial during the 4th quarter valued at about $65,000. Finally, Global Retirement Partners LLC grew its stake in OceanFirst Financial by 1,009.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,548 shares of the savings and loans company’s stock valued at $100,000 after acquiring an additional 5,048 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OCFC. Hovde Group lowered their target price on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens reaffirmed an “equal weight” rating and set a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. DA Davidson reaffirmed a “neutral” rating and set a $22.00 target price on shares of OceanFirst Financial in a research note on Wednesday, December 4th. Finally, Raymond James raised OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, OceanFirst Financial currently has a consensus rating of “Hold” and a consensus price target of $20.83.

OceanFirst Financial Trading Down 0.8 %

Shares of NASDAQ OCFC opened at $17.04 on Friday. The stock has a market cap of $997.81 million, a price-to-earnings ratio of 10.33 and a beta of 1.03. The business has a 50 day simple moving average of $17.89 and a 200 day simple moving average of $18.44. OceanFirst Financial Corp. has a 52 week low of $14.03 and a 52 week high of $21.87. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. On average, research analysts predict that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.20 per share. 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 4.69%. OceanFirst Financial’s payout ratio is currently 48.48%.

OceanFirst Financial 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.