OceanFirst Financial Corp. (NASDAQ:OCFC) Stock Holdings Decreased by Stifel Financial Corp

Stifel Financial Corp decreased its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,364 shares of the savings and loans company’s stock after selling 1,291 shares during the period. Stifel Financial Corp’s holdings in OceanFirst Financial were worth $267,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new position in OceanFirst Financial during the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of OceanFirst Financial during the 3rd quarter valued at approximately $25,000. Point72 DIFC Ltd acquired a new stake in shares of OceanFirst Financial during the 3rd quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in OceanFirst Financial by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company’s stock worth $57,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in OceanFirst Financial in the second quarter worth $62,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OCFC. Piper Sandler set a $17.00 target price on shares of OceanFirst Financial and gave the stock a “neutral” rating in a report on Friday, October 18th. Hovde Group increased their price objective on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods raised their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, DA Davidson reiterated a “neutral” rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.42.

OceanFirst Financial Price Performance

NASDAQ OCFC opened at $17.68 on Monday. The company has a 50-day moving average price of $19.41 and a two-hundred day moving average price of $17.86. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 10.10 and a beta of 1.04. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 52 week low of $14.03 and a 52 week high of $21.87.

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

OceanFirst Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Monday, November 4th. OceanFirst Financial’s dividend payout ratio (DPR) is 45.71%.

Insider Activity at OceanFirst Financial

In related 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 transaction, the director now owns 177,417 shares in the company, valued at $3,553,662.51. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.00% of the company’s stock.

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.