Systematic Financial Management LP Grows Holdings in OceanFirst Financial Corp. $OCFC

Systematic Financial Management LP boosted its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 8.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,202,031 shares of the savings and loans company’s stock after purchasing an additional 95,061 shares during the quarter. Systematic Financial Management LP owned about 2.09% of OceanFirst Financial worth $21,576,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OCFC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in OceanFirst Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,193 shares of the savings and loans company’s stock valued at $582,000 after purchasing an additional 1,461 shares during the last quarter. Empowered Funds LLC grew its position in OceanFirst Financial by 5.5% during the 1st quarter. Empowered Funds LLC now owns 140,481 shares of the savings and loans company’s stock valued at $2,390,000 after purchasing an additional 7,359 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in OceanFirst Financial by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,122 shares of the savings and loans company’s stock valued at $2,417,000 after purchasing an additional 11,262 shares during the last quarter. Jane Street Group LLC grew its position in OceanFirst Financial by 107.0% during the 1st quarter. Jane Street Group LLC now owns 88,353 shares of the savings and loans company’s stock valued at $1,503,000 after purchasing an additional 45,673 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in OceanFirst Financial by 15.6% during the 2nd quarter. Prudential Financial Inc. now owns 24,450 shares of the savings and loans company’s stock valued at $431,000 after purchasing an additional 3,295 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

OceanFirst Financial Price Performance

OCFC opened at $18.72 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $1.08 billion, a P/E ratio of 16.00 and a beta of 1.01. The company’s 50-day simple moving average is $18.46 and its two-hundred day simple moving average is $18.66. OceanFirst Financial Corp. has a 52-week low of $16.09 and a 52-week high of $20.61.

OceanFirst Financial (NASDAQ:OCFC) last posted its earnings results on Thursday, April 23rd. The savings and loans company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $103.20 million for the quarter, compared to analysts’ expectations of $143.25 million. OceanFirst Financial had a net margin of 10.04% and a return on equity of 5.35%. As a group, analysts predict that OceanFirst Financial Corp. will post 1.83 EPS for the current year.

OceanFirst Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, April 27th. OceanFirst Financial’s dividend payout ratio is 68.38%.

Wall Street Analyst Weigh In

Several analysts recently commented on OCFC shares. Wall Street Zen raised shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of OceanFirst Financial in a research note on Tuesday, April 21st. Finally, DA Davidson upped their target price on shares of OceanFirst Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, OceanFirst Financial has a consensus rating of “Hold” and an average price target of $21.67.

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.