OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Acquired by Cwm LLC

Cwm LLC increased its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 105.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,639 shares of the savings and loans company’s stock after purchasing an additional 11,114 shares during the period. Cwm LLC’s holdings in OceanFirst Financial were worth $402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in shares of OceanFirst Financial by 0.5% in the 2nd quarter. Federated Hermes Inc. now owns 137,196 shares of the savings and loans company’s stock worth $2,180,000 after acquiring an additional 658 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in OceanFirst Financial by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company’s stock worth $303,000 after purchasing an additional 1,016 shares during the period. Quest Partners LLC boosted its holdings in OceanFirst Financial by 2.2% in the second quarter. Quest Partners LLC now owns 52,372 shares of the savings and loans company’s stock worth $832,000 after purchasing an additional 1,112 shares during the period. Innealta Capital LLC bought a new stake in OceanFirst Financial during the second quarter valued at $25,000. Finally, Acadian Asset Management LLC bought a new position in shares of OceanFirst Financial in the 1st quarter worth about $39,000. 70.98% of the stock is owned by institutional investors.

OceanFirst Financial Price Performance

Shares of NASDAQ:OCFC opened at $19.10 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $17.61 and its two-hundred day moving average is $16.35. The firm has a market capitalization of $1.12 billion, a P/E ratio of 11.17 and a beta of 1.01. OceanFirst Financial Corp. has a 52 week low of $12.01 and a 52 week high of $19.49.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $170.41 million for the quarter, compared to the consensus estimate of $94.93 million. OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.85%. During the same period in the previous year, the firm earned $0.46 EPS. Analysts anticipate that OceanFirst Financial Corp. will post 1.58 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 4.19%. OceanFirst Financial’s payout ratio is 46.78%.

Wall Street Analysts Forecast Growth

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

About OceanFirst Financial

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.