LSV Asset Management Has $9.01 Million Stake in OceanFirst Financial Corp. (NASDAQ:OCFC)

LSV Asset Management reduced its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 518,711 shares of the savings and loans company’s stock after selling 10,200 shares during the quarter. LSV Asset Management’s holdings in OceanFirst Financial were worth $9,005,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in OceanFirst Financial in the 3rd quarter valued at approximately $34,000. International Assets Investment Management LLC increased its position in OceanFirst Financial by 1,240.5% during the fourth 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 during the period. Cary Street Partners Investment Advisory LLC raised its stake in OceanFirst Financial by 19.3% during 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 purchasing an additional 1,550 shares during the last quarter. Chapin Davis Inc. bought a new stake in OceanFirst Financial in the 4th quarter valued at $207,000. Finally, SG Americas Securities LLC acquired a new stake in OceanFirst Financial in the 3rd quarter worth $176,000. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Stock Performance

NASDAQ:OCFC opened at $15.51 on Wednesday. The stock has a market capitalization of $910.59 million, a P/E ratio of 9.07 and a beta of 1.01. OceanFirst Financial Corp. has a 1 year low of $12.01 and a 1 year high of $19.58. The firm has a 50 day moving average of $15.31 and a 200-day moving average of $15.49. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67.

OceanFirst Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.16%. OceanFirst Financial’s dividend payout ratio is 46.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OCFC shares. Raymond James lowered their price target on OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. StockNews.com upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Stephens reissued an “equal weight” rating and issued a $20.00 price target on shares of OceanFirst Financial in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price objective (down from $22.00) on shares of OceanFirst Financial in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, OceanFirst Financial has an average rating of “Hold” and an average price target of $18.20.

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.