OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) EVP Brian Schaeffer sold 3,500 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.49, for a total transaction of $54,215.00. Following the completion of the sale, the executive vice president now owns 41,868 shares in the company, valued at $648,535.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
OceanFirst Financial Price Performance
OCFC stock opened at $15.58 on Thursday. The stock's 50 day moving average is $15.32 and its two-hundred day moving average is $15.49. OceanFirst Financial Corp. has a 52-week low of $12.01 and a 52-week high of $19.58. The company has a market capitalization of $914.70 million, a PE ratio of 9.11 and a beta of 1.01. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.67.
OceanFirst Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.13%. The ex-dividend date is Friday, May 3rd. OceanFirst Financial's dividend payout ratio is currently 46.78%.
Institutional Investors Weigh In On OceanFirst Financial
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A number of institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in OceanFirst Financial in the third quarter worth about $34,000. International Assets Investment Management LLC grew its position in shares of OceanFirst Financial by 1,240.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company's stock worth $60,000 after acquiring an additional 3,213 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of OceanFirst Financial by 19.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company's stock valued at $139,000 after acquiring an additional 1,550 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of OceanFirst Financial in the 1st quarter valued at approximately $172,000. Finally, SG Americas Securities LLC acquired a new stake in shares of OceanFirst Financial during the 3rd quarter valued at approximately $176,000. Institutional investors and hedge funds own 70.98% of the company's stock.
Analyst Upgrades and Downgrades
OCFC has been the subject of several analyst reports. Stephens reiterated an "equal weight" rating and issued a $20.00 target price on shares of OceanFirst Financial in a research note on Friday, April 19th. Raymond James reduced their target price on shares of OceanFirst Financial from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, April 22nd. StockNews.com raised OceanFirst Financial from a "sell" rating to a "hold" rating in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $19.00 target price (down previously from $22.00) on shares of OceanFirst Financial in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $18.20.
View Our Latest Stock Analysis on OceanFirst Financial
OceanFirst Financial Company Profile
(
Get Free Report)
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.
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