Harbor Capital Advisors Inc. Purchases 995 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

Harbor Capital Advisors Inc. raised its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,815 shares of the savings and loans company’s stock after buying an additional 995 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in OceanFirst Financial were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in OceanFirst Financial in the second quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new position in OceanFirst Financial during the 1st quarter worth $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 acquired a new stake in OceanFirst Financial in the first quarter worth about $150,000. Finally, CWM LLC grew its stake in shares of OceanFirst Financial by 437.0% during 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 during the last quarter. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Stock Down 4.0 %

NASDAQ:OCFC opened at $20.20 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The company’s fifty day moving average price is $18.09 and its 200-day moving average price is $16.67. OceanFirst Financial Corp. has a 1-year low of $12.93 and a 1-year high of $21.21. The firm has a market capitalization of $1.18 billion, a P/E ratio of 11.54 and a beta of 1.01.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.96%. OceanFirst Financial’s payout ratio is currently 45.71%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OCFC shares. Piper Sandler set a $17.00 target price on shares of OceanFirst Financial and gave the stock a “neutral” rating in a research report on Friday, October 18th. Hovde Group boosted their price objective on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.30.

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.