Zurcher Kantonalbank Zurich Cantonalbank Decreases Position in OceanFirst Financial Corp. (NASDAQ:OCFC)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,436 shares of the savings and loans company’s stock after selling 2,289 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OceanFirst Financial were worth $181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of OceanFirst Financial during the third quarter valued at approximately $176,000. Principal Financial Group Inc. grew its stake in shares of OceanFirst Financial by 47.3% during the third quarter. Principal Financial Group Inc. now owns 21,334 shares of the savings and loans company’s stock valued at $309,000 after buying an additional 6,846 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of OceanFirst Financial by 3.1% during the third quarter. Seizert Capital Partners LLC now owns 144,735 shares of the savings and loans company’s stock valued at $2,094,000 after buying an additional 4,299 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of OceanFirst Financial during the third quarter valued at approximately $34,000. Finally, Boston Partners grew its stake in shares of OceanFirst Financial by 11.1% during the third quarter. Boston Partners now owns 1,394,141 shares of the savings and loans company’s stock valued at $19,660,000 after buying an additional 139,646 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

OceanFirst Financial Stock Down 0.7 %

OceanFirst Financial stock opened at $15.51 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $910.59 million, a price-to-earnings ratio of 9.07 and a beta of 1.01. OceanFirst Financial Corp. has a 1-year low of $12.01 and a 1-year high of $19.58. The business has a fifty day moving average price of $15.31 and a 200-day moving average price of $15.49.

OceanFirst Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $0.20 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.16%. OceanFirst Financial’s payout ratio is 46.78%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James reduced their price objective on OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of OceanFirst Financial in a report on Friday, April 19th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price objective (down from $22.00) on shares of OceanFirst Financial in a report on Monday, April 22nd. Finally, StockNews.com upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.20.

OceanFirst Financial 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.