OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Sold by Quest Partners LLC

Quest Partners LLC lowered its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 55.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,251 shares of the savings and loans company’s stock after selling 29,121 shares during the period. Quest Partners LLC’s holdings in OceanFirst Financial were worth $432,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of OCFC. Royce & Associates LP boosted its position in OceanFirst Financial by 43.7% during the third quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company’s stock worth $13,635,000 after purchasing an additional 223,203 shares in the last quarter. American Century Companies Inc. boosted its position in shares of OceanFirst Financial by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 956,320 shares of the savings and loans company’s stock worth $15,196,000 after buying an additional 164,626 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of OceanFirst Financial by 24.4% in the 2nd quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock worth $12,828,000 after buying an additional 158,590 shares in the last quarter. Vanguard Group Inc. grew its stake in OceanFirst Financial by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company’s stock valued at $57,027,000 after acquiring an additional 105,764 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in OceanFirst Financial by 32.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 272,243 shares of the savings and loans company’s stock valued at $4,326,000 after acquiring an additional 66,918 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Stock Performance

OceanFirst Financial stock opened at $20.88 on Friday. The stock has a fifty day moving average price of $18.76 and a 200 day moving average price of $17.06. OceanFirst Financial Corp. has a 52 week low of $13.41 and a 52 week high of $21.34. The firm has a market capitalization of $1.22 billion, a P/E ratio of 11.93 and a beta of 1.01. 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 (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. The business had revenue of $96.90 million for the quarter, compared to analyst estimates of $92.79 million. Equities research analysts anticipate that OceanFirst Financial Corp. will post 1.59 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, November 4th. This represents a $0.80 annualized dividend and a dividend yield of 3.83%. OceanFirst Financial’s dividend payout ratio is presently 45.71%.

Insider Transactions 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 dated Monday, November 11th. The stock was sold at an average price of $20.03, for a total transaction of $30,045.00. Following the completion of the sale, the director now owns 177,417 shares of the company’s stock, valued at approximately $3,553,662.51. The trade was 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 accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Hovde Group increased their price target on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research report on Friday, September 20th. DA Davidson increased their target price on OceanFirst Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Finally, Piper Sandler set a $17.00 price target on OceanFirst Financial and gave the stock a “neutral” rating in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.75.

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.