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

Hennion & Walsh Asset Management Inc. increased its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,519 shares of the savings and loans company’s stock after buying an additional 6,496 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.05% of OceanFirst Financial worth $534,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in OceanFirst Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,421,373 shares of the savings and loans company’s stock worth $26,428,000 after purchasing an additional 27,579 shares during the period. JPMorgan Chase & Co. lifted its position in OceanFirst Financial by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company’s stock worth $23,074,000 after purchasing an additional 157,711 shares during the period. Wellington Management Group LLP lifted its position in OceanFirst Financial by 587.2% in the third quarter. Wellington Management Group LLP now owns 1,082,855 shares of the savings and loans company’s stock worth $20,130,000 after purchasing an additional 925,283 shares during the period. Systematic Financial Management LP lifted its position in OceanFirst Financial by 10.8% in the third quarter. Systematic Financial Management LP now owns 917,085 shares of the savings and loans company’s stock worth $17,049,000 after purchasing an additional 89,099 shares during the period. Finally, AQR Capital Management LLC lifted its position in OceanFirst Financial by 24.4% in the second quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock worth $12,828,000 after purchasing an additional 158,590 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at OceanFirst Financial

In other OceanFirst Financial news, Director Joseph M. Jr. Murphy sold 1,500 shares of the business’s stock in a transaction 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 sale, the director now directly owns 177,417 shares of the company’s stock, valued at $3,553,662.51. The trade was a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.00% of the company’s stock.

OceanFirst Financial Price Performance

Shares of NASDAQ:OCFC opened at $18.76 on Tuesday. The company’s fifty day moving average is $19.24 and its two-hundred day moving average is $18.21. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 12-month low of $14.03 and a 12-month high of $21.87. The company has a market cap of $1.10 billion, a P/E ratio of 10.72 and a beta of 1.06.

Analyst Upgrades and Downgrades

OCFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson reiterated a “neutral” rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Piper Sandler set a $17.00 price objective on OceanFirst Financial and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Raymond James upgraded OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, OceanFirst Financial has an average rating of “Hold” and a consensus price target of $20.42.

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.