WINTON GROUP Ltd lessened its stake in OceanFirst Financial Corp. (NASDAQ:OCFC) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,568 shares of the savings and loans company’s stock after selling 2,303 shares during the quarter. WINTON GROUP Ltd’s holdings in OceanFirst Financial were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of OCFC. Amundi Pioneer Asset Management Inc. purchased a new position in OceanFirst Financial in the 4th quarter worth about $108,000. Legal & General Group Plc raised its position in OceanFirst Financial by 12.7% in the 4th quarter. Legal & General Group Plc now owns 8,286 shares of the savings and loans company’s stock worth $187,000 after buying an additional 934 shares during the last quarter. SG Americas Securities LLC purchased a new position in OceanFirst Financial in the 1st quarter worth about $191,000. Sciencast Management LP purchased a new position in OceanFirst Financial in the 1st quarter worth about $228,000. Finally, BNP Paribas Arbitrage SA raised its position in OceanFirst Financial by 451.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,888 shares of the savings and loans company’s stock worth $238,000 after buying an additional 8,095 shares during the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.
OCFC has been the subject of a number of recent analyst reports. BidaskClub lowered OceanFirst Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods lowered OceanFirst Financial from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $29.00 to $26.50 in a research report on Monday, July 29th. FIG Partners reissued an “outperform” rating on shares of OceanFirst Financial in a research report on Monday, April 29th. Sandler O’Neill lowered OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Boenning Scattergood reissued a “hold” rating on shares of OceanFirst Financial in a research report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.17.
OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, July 25th. The savings and loans company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.04). The firm had revenue of $74.72 million for the quarter, compared to the consensus estimate of $77.38 million. OceanFirst Financial had a net margin of 27.15% and a return on equity of 9.69%. On average, sell-side analysts expect that OceanFirst Financial Corp. will post 2.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.17 per share. This is an increase from OceanFirst Financial’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, August 2nd. OceanFirst Financial’s payout ratio is currently 34.34%.
OceanFirst Financial Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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