OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 3.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,023 shares of the savings and loans company’s stock after purchasing an additional 724 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in OceanFirst Financial were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in OCFC. Innealta Capital LLC bought a new position in shares of OceanFirst Financial in the second quarter worth $25,000. Acadian Asset Management LLC acquired a new position in OceanFirst Financial during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new position in OceanFirst Financial during the 2nd quarter valued at about $62,000. EMC Capital Management bought a new stake in shares of OceanFirst Financial during the 1st quarter worth about $150,000. Finally, CWM LLC lifted its stake in shares of OceanFirst Financial by 437.0% in the 2nd 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 during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler set a $17.00 price objective on shares of OceanFirst Financial and gave the company a “neutral” rating in a research note on Friday, October 18th. Hovde Group lifted their price target on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.30.

OceanFirst Financial Stock Up 3.5 %

OCFC stock opened at $18.30 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $1.07 billion, a PE ratio of 10.46 and a beta of 1.01. OceanFirst Financial Corp. has a 12 month low of $12.41 and a 12 month high of $19.49. The firm has a 50 day simple moving average of $17.81 and a 200 day simple moving average of $16.44.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Monday, November 4th. OceanFirst Financial’s dividend payout ratio is presently 45.71%.

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.