Hennion & Walsh Asset Management Inc. Has $534,000 Stock Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Hennion & Walsh Asset Management Inc. lifted its stake in OceanFirst Financial Corp. (NASDAQ:OCFC) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,519 shares of the savings and loans company’s stock after acquiring an additional 6,496 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in OceanFirst Financial were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of OceanFirst Financial by 0.7% in the third quarter. Jane Street Group LLC now owns 71,504 shares of the savings and loans company’s stock worth $1,329,000 after acquiring an additional 494 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of OceanFirst Financial by 5.9% in the third quarter. Harbor Capital Advisors Inc. now owns 17,815 shares of the savings and loans company’s stock worth $331,000 after acquiring an additional 995 shares during the last quarter. Foundry Partners LLC increased its position in OceanFirst Financial by 8.5% during the third quarter. Foundry Partners LLC now owns 14,564 shares of the savings and loans company’s stock worth $271,000 after buying an additional 1,145 shares during the last quarter. Versant Capital Management Inc increased its position in OceanFirst Financial by 1,036.4% during the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after buying an additional 1,337 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in OceanFirst Financial during the third quarter worth $25,000. 70.98% of the stock is owned by institutional investors and hedge funds.

OceanFirst Financial Stock Up 0.6 %

OCFC stock opened at $18.76 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. OceanFirst Financial Corp. has a 52-week low of $14.03 and a 52-week high of $21.87. The company has a 50-day moving average of $19.24 and a two-hundred day moving average of $18.21. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.72 and a beta of 1.06.

Insider Buying and Selling at OceanFirst Financial

In related news, Director Joseph M. Jr. Murphy sold 1,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.03, for a total value of $30,045.00. Following the completion of the sale, the director now owns 177,417 shares in the company, valued at approximately $3,553,662.51. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson reissued a “neutral” rating and set a $22.00 target price on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Raymond James raised shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods increased their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler set a $17.00 target price on shares of OceanFirst Financial and gave the stock a “neutral” rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.42.

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.