OceanFirst Financial Corp. (OCFC) Director Michael D. Devlin Sells 4,801 Shares of Stock
OceanFirst Financial Corp. (NASDAQ:OCFC) Director Michael D. Devlin sold 4,801 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $29.72, for a total value of $142,685.72. Following the transaction, the director now directly owns 129,614 shares of the company’s stock, valued at approximately $3,852,128.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
OceanFirst Financial Corp. (NASDAQ:OCFC) traded down 0.10% on Thursday, reaching $29.37. The company’s stock had a trading volume of 60,693 shares. The firm has a 50-day moving average of $29.47 and a 200-day moving average of $23.39. OceanFirst Financial Corp. has a one year low of $16.54 and a one year high of $30.70. The company has a market capitalization of $806.53 million, a PE ratio of 29.97 and a beta of 0.59.
OceanFirst Financial Corp. (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, January 26th. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. OceanFirst Financial Corp. had a return on equity of 9.82% and a net margin of 14.98%. Analysts predict that OceanFirst Financial Corp. will post $1.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Monday, February 6th will be given a $0.15 dividend. The ex-dividend date is Thursday, February 2nd. This represents a $0.60 annualized dividend and a yield of 2.04%. This is a positive change from OceanFirst Financial Corp.’s previous quarterly dividend of $0.13. OceanFirst Financial Corp.’s dividend payout ratio (DPR) is currently 61.22%.
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A number of research analysts have commented on OCFC shares. Sandler O’Neill lowered OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, January 30th. Zacks Investment Research raised OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, December 1st.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EJF Capital LLC raised its position in OceanFirst Financial Corp. by 41.4% in the third quarter. EJF Capital LLC now owns 1,519,119 shares of the company’s stock valued at $29,258,000 after buying an additional 445,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in OceanFirst Financial Corp. by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,056,846 shares of the company’s stock valued at $31,737,000 after buying an additional 254,709 shares in the last quarter. Brown Advisory Inc. raised its position in OceanFirst Financial Corp. by 7.2% in the fourth quarter. Brown Advisory Inc. now owns 968,168 shares of the company’s stock valued at $29,074,000 after buying an additional 65,019 shares in the last quarter. RMB Capital Management LLC raised its position in OceanFirst Financial Corp. by 411.7% in the third quarter. RMB Capital Management LLC now owns 854,194 shares of the company’s stock valued at $16,452,000 after buying an additional 687,268 shares in the last quarter. Finally, FJ Capital Management LLC raised its position in OceanFirst Financial Corp. by 2.1% in the fourth quarter. FJ Capital Management LLC now owns 566,600 shares of the company’s stock valued at $17,014,000 after buying an additional 11,600 shares in the last quarter. Institutional investors own 55.62% of the company’s stock.
About OceanFirst Financial Corp.
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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