Hsbc Holdings PLC Has $1.08 Million Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Hsbc Holdings PLC raised its position in OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,618 shares of the savings and loans company’s stock after buying an additional 4,576 shares during the period. Hsbc Holdings PLC owned 0.10% of OceanFirst Financial worth $1,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bailard Inc. acquired a new position in shares of OceanFirst Financial during the third quarter worth approximately $410,000. Trexquant Investment LP lifted its position in shares of OceanFirst Financial by 8.1% during the second quarter. Trexquant Investment LP now owns 20,530 shares of the savings and loans company’s stock worth $393,000 after purchasing an additional 1,536 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of OceanFirst Financial by 33.8% during the second quarter. Lazard Asset Management LLC now owns 102,266 shares of the savings and loans company’s stock worth $1,955,000 after purchasing an additional 25,817 shares in the last quarter. Dakota Wealth Management acquired a new position in shares of OceanFirst Financial during the second quarter worth approximately $211,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of OceanFirst Financial by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 321,542 shares of the savings and loans company’s stock worth $5,993,000 after purchasing an additional 1,652 shares in the last quarter. 69.77% of the stock is currently owned by institutional investors and hedge funds.

OceanFirst Financial Trading Down 1.2 %

OCFC opened at $23.34 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.03 and a quick ratio of 0.98. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 9.64 and a beta of 0.91. The firm has a 50 day simple moving average of $23.01 and a 200 day simple moving average of $21.80. OceanFirst Financial Corp. has a fifty-two week low of $18.24 and a fifty-two week high of $24.93.

OceanFirst Financial (NASDAQ:OCFC – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The savings and loans company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $134.04 million during the quarter, compared to the consensus estimate of $110.75 million. OceanFirst Financial had a net margin of 29.90% and a return on equity of 9.21%. On average, sell-side analysts anticipate that OceanFirst Financial Corp. will post 2.7 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.80 annualized dividend and a yield of 3.43%. OceanFirst Financial’s dividend payout ratio is presently 33.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on OCFC shares. StockNews.com lowered shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Piper Sandler lowered shares of OceanFirst Financial from an “overweight” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Monday, December 12th.

About OceanFirst Financial

(Get Rating)

OceanFirst Financial Corp. operates as a savings and loan holding company, which engages in the provision of financial services. Its subsidiary OceanFirst Bank, offers commercial and residential financing solutions, wealth management, and deposit services. It has retail branches throughout the state and in metropolitan New York City along with loan production offices in New Jersey, New York City and Pennsylvania.