Creative Planning Acquires 1,411 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

Creative Planning increased its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,625 shares of the savings and loans company’s stock after purchasing an additional 1,411 shares during the quarter. Creative Planning’s holdings in OceanFirst Financial were worth $774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of OCFC. Innealta Capital LLC bought a new stake in OceanFirst Financial during the 2nd quarter valued at approximately $25,000. Acadian Asset Management LLC bought a new stake in OceanFirst Financial during the 1st quarter valued at approximately $39,000. Meeder Asset Management Inc. bought a new stake in OceanFirst Financial during the 2nd quarter valued at approximately $62,000. EMC Capital Management bought a new stake in OceanFirst Financial during the 1st quarter valued at approximately $150,000. Finally, CWM LLC boosted its position in OceanFirst Financial by 437.0% during the 2nd quarter. CWM LLC now owns 10,525 shares of the savings and loans company’s stock valued at $167,000 after acquiring an additional 8,565 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on OCFC. Hovde Group lifted their price objective on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research report on Friday, September 20th. 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, OceanFirst Financial presently has a consensus rating of “Hold” and an average target price of $19.30.

OceanFirst Financial Price Performance

OCFC stock opened at $18.20 on Friday. The firm has a 50 day moving average price of $17.96 and a 200-day moving average price of $16.55. OceanFirst Financial Corp. has a 52-week low of $12.41 and a 52-week high of $19.49. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 10.40 and a beta of 1.01. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.01.

OceanFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued 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 dividend yield of 4.40%. OceanFirst Financial’s payout ratio is 45.71%.

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.