Thrivent Financial for Lutherans Has $4.33 Million Stock Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Thrivent Financial for Lutherans increased its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 32.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 272,243 shares of the savings and loans company’s stock after acquiring an additional 66,918 shares during the quarter. Thrivent Financial for Lutherans’ holdings in OceanFirst Financial were worth $4,326,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of OceanFirst Financial during the second quarter worth $25,000. Acadian Asset Management LLC acquired a new stake in OceanFirst Financial during the 1st quarter worth $39,000. Meeder Asset Management Inc. bought a new position in OceanFirst Financial during the second quarter worth about $62,000. EMC Capital Management acquired a new position in OceanFirst Financial in the first quarter valued at about $150,000. Finally, CWM LLC increased 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 worth $167,000 after acquiring an additional 8,565 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group lifted their price objective on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.90.

OceanFirst Financial Stock Performance

OCFC opened at $18.32 on Friday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.71 and a beta of 1.01. The business’s 50-day moving average price is $17.30 and its two-hundred day moving average price is $16.07. OceanFirst Financial Corp. has a 1 year low of $12.01 and a 1 year high of $18.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.01 and a quick ratio of 1.01.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $170.41 million during the quarter, compared to analyst estimates of $94.93 million. OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.85%. During the same period in the prior year, the business posted $0.46 EPS. Equities analysts expect that OceanFirst Financial Corp. will post 1.58 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, August 5th. OceanFirst Financial’s dividend payout ratio is presently 46.78%.

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.