Northern Trust Corp Has $9.13 Million Stock Holdings in OceanFirst Financial Corp. $OCFC

Northern Trust Corp lessened its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 536,733 shares of the savings and loans company’s stock after selling 16,630 shares during the quarter. Northern Trust Corp owned about 0.92% of OceanFirst Financial worth $9,130,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OCFC. Ameriprise Financial Inc. lifted its stake in shares of OceanFirst Financial by 3.6% during the fourth quarter. Ameriprise Financial Inc. now owns 700,247 shares of the savings and loans company’s stock valued at $12,674,000 after acquiring an additional 24,634 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of OceanFirst Financial by 64.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 75,238 shares of the savings and loans company’s stock valued at $1,362,000 after acquiring an additional 29,450 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of OceanFirst Financial during the fourth quarter valued at $183,000. Captrust Financial Advisors lifted its stake in shares of OceanFirst Financial by 8.1% during the fourth quarter. Captrust Financial Advisors now owns 11,728 shares of the savings and loans company’s stock valued at $212,000 after acquiring an additional 882 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of OceanFirst Financial by 321.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 66,275 shares of the savings and loans company’s stock valued at $1,200,000 after acquiring an additional 50,535 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded OceanFirst Financial from a “hold” rating to a “strong sell” rating in a report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, OceanFirst Financial has an average rating of “Hold” and a consensus target price of $20.67.

OceanFirst Financial Trading Down 1.8%

NASDAQ OCFC opened at $18.34 on Friday. The stock has a 50-day simple moving average of $17.84 and a 200 day simple moving average of $17.17. The company has a market capitalization of $1.05 billion, a PE ratio of 13.01 and a beta of 1.07. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.70. OceanFirst Financial Corp. has a 12 month low of $14.29 and a 12 month high of $21.87.

OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). OceanFirst Financial had a net margin of 12.89% and a return on equity of 5.22%. The company had revenue of $99.37 million during the quarter, compared to the consensus estimate of $101.26 million. Research analysts forecast that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.4%. OceanFirst Financial’s dividend payout ratio (DPR) is currently 56.74%.

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.