SG Americas Securities LLC grew its position in OceanFirst Financial Corp. (NASDAQ:OCFC – Free Report) by 44.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,086 shares of the savings and loans company’s stock after buying an additional 12,309 shares during the quarter. SG Americas Securities LLC owned 0.07% of OceanFirst Financial worth $745,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of OceanFirst Financial by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,046,061 shares of the savings and loans company’s stock valued at $18,160,000 after purchasing an additional 66,868 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of OceanFirst Financial by 6.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,434 shares of the savings and loans company’s stock valued at $303,000 after purchasing an additional 1,016 shares during the last quarter. Eagle Wealth Strategies LLC grew its holdings in shares of OceanFirst Financial by 25.1% during the 1st quarter. Eagle Wealth Strategies LLC now owns 68,172 shares of the savings and loans company’s stock valued at $1,078,000 after purchasing an additional 13,690 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of OceanFirst Financial by 2.4% during the 1st quarter. Hennessy Advisors Inc. now owns 210,000 shares of the savings and loans company’s stock valued at $3,446,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of OceanFirst Financial during the 1st quarter valued at approximately $216,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.
OceanFirst Financial Stock Up 4.3 %
OceanFirst Financial stock opened at $18.31 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.74. OceanFirst Financial Corp. has a 12-month low of $12.01 and a 12-month high of $18.98. The firm’s fifty day moving average is $17.29 and its 200 day moving average is $16.24. The company has a market capitalization of $1.08 billion, a PE ratio of 10.71 and a beta of 1.01.
OceanFirst Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, August 5th. This represents a $0.80 annualized dividend and a yield of 4.37%. OceanFirst Financial’s payout ratio is 46.78%.
Analyst Upgrades and Downgrades
Separately, Hovde Group boosted their target price on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.90.
Get Our Latest Stock Report on OCFC
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.
Featured Stories
- Five stocks we like better than OceanFirst Financial
- ETF Screener: Uses and Step-by-Step Guide
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
- What is Insider Trading? What You Can Learn from Insider Trading
- China’s EV Rally: Should Investors Chase, Avoid, or Buy the Dip?
- Why is the Ex-Dividend Date Significant to Investors?
- MarketBeat Week in Review – 10/7 – 10/11
Want to see what other hedge funds are holding OCFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OceanFirst Financial Corp. (NASDAQ:OCFC – Free Report).
Receive News & Ratings for OceanFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.