OceanFirst Financial Corp. (NASDAQ:OCFC) Stake Lessened by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,183,638 shares of the savings and loans company’s stock after selling 107,851 shares during the period. Dimensional Fund Advisors LP owned 5.42% of OceanFirst Financial worth $50,586,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in OceanFirst Financial in the 2nd quarter valued at about $25,000. Acadian Asset Management LLC acquired a new stake in OceanFirst Financial during the first quarter valued at approximately $39,000. Meeder Asset Management Inc. bought a new stake in OceanFirst Financial during the second quarter worth approximately $62,000. EMC Capital Management bought a new stake in OceanFirst Financial during the first quarter worth approximately $150,000. Finally, CWM LLC grew its position in OceanFirst Financial by 437.0% in the second quarter. CWM LLC now owns 10,525 shares of the savings and loans company’s stock worth $167,000 after buying an additional 8,565 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Hovde Group boosted their target price on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.90.

OceanFirst Financial Stock Up 0.3 %

NASDAQ:OCFC opened at $18.32 on Monday. The stock’s fifty day moving average price is $17.30 and its two-hundred day moving average price is $16.07. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 10.71 and a beta of 1.01. OceanFirst Financial Corp. has a 52-week low of $12.01 and a 52-week high of $18.98. 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 (NASDAQ:OCFC) last issued its earnings results on Thursday, July 18th. The savings and loans company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.85%. The business had revenue of $170.41 million for the quarter, compared to the consensus estimate of $94.93 million. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, analysts anticipate that OceanFirst Financial Corp. will post 1.58 EPS for the current year.

OceanFirst Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.80 annualized dividend and a dividend yield of 4.37%. OceanFirst Financial’s dividend payout ratio is currently 46.78%.

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.