Captrust Financial Advisors Acquires 882 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)

Captrust Financial Advisors boosted its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,728 shares of the savings and loans company’s stock after purchasing an additional 882 shares during the quarter. Captrust Financial Advisors’ holdings in OceanFirst Financial were worth $212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OCFC. Foundry Partners LLC grew its position in OceanFirst Financial by 1,985.9% in the 4th quarter. Foundry Partners LLC now owns 303,794 shares of the savings and loans company’s stock valued at $5,499,000 after purchasing an additional 289,230 shares during the period. Mesirow Institutional Investment Management Inc. grew its position in OceanFirst Financial by 34.4% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 697,788 shares of the savings and loans company’s stock valued at $12,630,000 after purchasing an additional 178,761 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in OceanFirst Financial in the 4th quarter valued at $2,695,000. American Century Companies Inc. grew its position in OceanFirst Financial by 11.2% in the 4th quarter. American Century Companies Inc. now owns 1,208,800 shares of the savings and loans company’s stock valued at $21,879,000 after purchasing an additional 121,923 shares during the period. Finally, Barclays PLC grew its position in OceanFirst Financial by 24.5% in the 4th quarter. Barclays PLC now owns 372,771 shares of the savings and loans company’s stock valued at $6,747,000 after purchasing an additional 73,337 shares during the period. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Price Performance

OCFC opened at $16.79 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market capitalization of $980.27 million, a price-to-earnings ratio of 10.18 and a beta of 0.99. The firm’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $17.95. OceanFirst Financial Corp. has a 1 year low of $14.03 and a 1 year high of $21.87.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. As a group, analysts anticipate that OceanFirst Financial Corp. will post 1.6 earnings per share for the current fiscal year.

OceanFirst Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Monday, May 5th. OceanFirst Financial’s dividend payout ratio is 52.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of OceanFirst Financial from $21.00 to $20.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Raymond James reduced their price target on shares of OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Hovde Group reduced their price target on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and issued a $22.00 price target on shares of OceanFirst Financial in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.67.

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.