Foundry Partners LLC Has $271,000 Stock Holdings in OceanFirst Financial Corp. (NASDAQ:OCFC)

Foundry Partners LLC lifted its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 8.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,564 shares of the savings and loans company’s stock after buying an additional 1,145 shares during the period. Foundry Partners LLC’s holdings in OceanFirst Financial were worth $271,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in OceanFirst Financial by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company’s stock worth $57,027,000 after acquiring an additional 105,764 shares in the last quarter. Boston Partners increased its position in OceanFirst Financial by 3.2% during the 1st quarter. Boston Partners now owns 1,391,127 shares of the savings and loans company’s stock worth $22,505,000 after purchasing an additional 42,966 shares in the last quarter. American Century Companies Inc. lifted its stake in OceanFirst Financial by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 956,320 shares of the savings and loans company’s stock valued at $15,196,000 after purchasing an additional 164,626 shares during the last quarter. AQR Capital Management LLC boosted its position in OceanFirst Financial by 24.4% in the second quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock valued at $12,828,000 after buying an additional 158,590 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of OceanFirst Financial by 43.7% during the third quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company’s stock worth $13,635,000 after buying an additional 223,203 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Stock Up 3.7 %

Shares of OCFC opened at $20.88 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of 11.54 and a beta of 1.01. The stock’s 50-day moving average price is $18.70 and its two-hundred day moving average price is $17.03. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. OceanFirst Financial Corp. has a 12 month low of $13.41 and a 12 month high of $21.34.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 17th. The savings and loans company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $96.90 million for the quarter, compared to analyst estimates of $92.79 million. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. On average, analysts anticipate that OceanFirst Financial Corp. will post 1.59 EPS for the current year.

OceanFirst Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.20 per share. The ex-dividend date was Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a yield of 3.83%. OceanFirst Financial’s dividend payout ratio (DPR) is currently 45.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OCFC shares. Hovde Group increased their price target on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research note on Friday, September 20th. DA Davidson increased their target price on OceanFirst Financial from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Piper Sandler set a $17.00 price target on OceanFirst Financial and gave the stock a “neutral” rating in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.75.

Insiders Place Their Bets

In other news, Director Joseph M. Jr. Murphy sold 1,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.03, for a total transaction of $30,045.00. Following the transaction, the director now owns 177,417 shares in the company, valued at approximately $3,553,662.51. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

OceanFirst Financial Company 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.