Oxford Financial Group LTD. LLC Acquires Shares of 27,634 OceanFirst Financial Corp. $OCFC

Oxford Financial Group LTD. LLC acquired a new stake in OceanFirst Financial Corp. (NASDAQ:OCFC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,634 shares of the savings and loans company’s stock, valued at approximately $540,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in OceanFirst Financial during the second quarter valued at approximately $194,135,000. Dimensional Fund Advisors LP boosted its position in OceanFirst Financial by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,409,103 shares of the savings and loans company’s stock worth $61,499,000 after purchasing an additional 179,364 shares in the last quarter. Vanguard Group Inc. boosted its position in OceanFirst Financial by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 3,407,118 shares of the savings and loans company’s stock worth $61,158,000 after purchasing an additional 9,154 shares in the last quarter. Wellington Management Group LLP boosted its position in OceanFirst Financial by 36.7% in the 4th quarter. Wellington Management Group LLP now owns 3,265,615 shares of the savings and loans company’s stock worth $58,618,000 after purchasing an additional 877,311 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of OceanFirst Financial during the 4th quarter worth approximately $38,976,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OCFC shares. DA Davidson lifted their target price on shares of OceanFirst Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of OceanFirst Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. Finally, Piper Sandler restated a “neutral” rating and set a $21.00 price target (up from $19.00) on shares of OceanFirst Financial in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, OceanFirst Financial has an average rating of “Hold” and an average target price of $21.50.

OceanFirst Financial Stock Performance

Shares of OCFC stock opened at $19.08 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of 22.45 and a beta of 0.99. The business’s 50 day moving average is $19.23 and its two-hundred day moving average is $18.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. OceanFirst Financial Corp. has a 12-month low of $17.05 and a 12-month high of $20.61.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, July 30th. The savings and loans company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $131.33 million during the quarter, compared to analysts’ expectations of $135.62 million. OceanFirst Financial had a return on equity of 5.34% and a net margin of 6.38%. Analysts expect that OceanFirst Financial Corp. will post 1.81 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, August 10th. OceanFirst Financial’s payout ratio is presently 94.12%.

Insider Buying and Selling

In other OceanFirst Financial news, Director John R. Buran sold 113,463 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $19.40, for a total transaction of $2,201,182.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.40% of the company’s stock.

OceanFirst Financial Company Profile

OceanFirst Financial Corporation (NASDAQ: OCFC) is a bank holding company headquartered in Toms River, New Jersey, that provides a full range of community banking and financial services through its principal subsidiary, OceanFirst Bank. Established in the early 20th century, the company has built its business around serving the deposit, lending and wealth management needs of individuals, small businesses, municipalities and nonprofit organizations across New Jersey and portions of New York.

The company’s core activities include accepting consumer and business deposits, making commercial, municipal and consumer loans, and offering residential mortgage financing.