OceanFirst Financial Corp. (NASDAQ:OCFC) is Endeavour Capital Advisors Inc.’s 8th Largest Position

Endeavour Capital Advisors Inc. lessened its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 18.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 652,153 shares of the savings and loans company’s stock after selling 148,381 shares during the quarter. OceanFirst Financial makes up 3.8% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 8th largest holding. Endeavour Capital Advisors Inc. owned approximately 1.12% of OceanFirst Financial worth $11,804,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Trexquant Investment LP grew its holdings in OceanFirst Financial by 59.2% during the 4th quarter. Trexquant Investment LP now owns 115,653 shares of the savings and loans company’s stock worth $2,093,000 after acquiring an additional 43,019 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of OceanFirst Financial by 18.1% during the 4th quarter. Franklin Resources Inc. now owns 94,007 shares of the savings and loans company’s stock worth $1,702,000 after purchasing an additional 14,436 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of OceanFirst Financial by 27.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 140,665 shares of the savings and loans company’s stock worth $2,546,000 after purchasing an additional 30,373 shares in the last quarter. LPL Financial LLC increased its holdings in OceanFirst Financial by 8.4% in the fourth quarter. LPL Financial LLC now owns 45,257 shares of the savings and loans company’s stock valued at $819,000 after buying an additional 3,513 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in OceanFirst Financial in the fourth quarter valued at $539,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

OceanFirst Financial Price Performance

Shares of NASDAQ OCFC opened at $17.00 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market cap of $995.47 million, a PE ratio of 10.30 and a beta of 1.03. The stock has a fifty day moving average price of $17.68 and a 200 day moving average price of $18.45. OceanFirst Financial Corp. has a 1-year low of $14.03 and a 1-year high of $21.87.

OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%. Sell-side analysts forecast that OceanFirst Financial Corp. will post 1.6 EPS for the current year.

OceanFirst Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s payout ratio is 48.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OCFC. Keefe, Bruyette & Woods increased their price objective on OceanFirst Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and set a $22.00 price objective on shares of OceanFirst Financial in a report on Friday, January 24th. DA Davidson restated a “neutral” rating and issued a $22.00 target price on shares of OceanFirst Financial in a report on Wednesday, December 4th. Raymond James upgraded shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Hovde Group decreased their price objective on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, OceanFirst Financial presently has an average rating of “Hold” and an average target price of $20.83.

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.