Endeavour Capital Advisors Inc. Raises Stock Holdings in OceanFirst Financial Corp. $OCFC

Endeavour Capital Advisors Inc. grew its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 18.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 897,091 shares of the savings and loans company’s stock after acquiring an additional 141,463 shares during the quarter. OceanFirst Financial accounts for approximately 4.8% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 8th biggest holding. Endeavour Capital Advisors Inc. owned approximately 1.56% of OceanFirst Financial worth $15,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OCFC. State of Alaska Department of Revenue bought a new position in shares of OceanFirst Financial during the third quarter valued at about $40,000. Tower Research Capital LLC TRC boosted its holdings in OceanFirst Financial by 458.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,526 shares of the savings and loans company’s stock valued at $150,000 after acquiring an additional 6,998 shares during the period. EMC Capital Management grew its position in OceanFirst Financial by 8.7% during the 2nd quarter. EMC Capital Management now owns 9,952 shares of the savings and loans company’s stock worth $175,000 after acquiring an additional 800 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in OceanFirst Financial by 7.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,285 shares of the savings and loans company’s stock worth $181,000 after purchasing an additional 673 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in OceanFirst Financial by 7.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the savings and loans company’s stock valued at $206,000 after purchasing an additional 811 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Stock Down 1.0%

Shares of NASDAQ:OCFC opened at $19.51 on Thursday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 16.82 and a beta of 1.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $18.99 and a 200-day moving average price of $18.41. OceanFirst Financial Corp. has a 52-week low of $14.29 and a 52-week high of $20.61.

OceanFirst Financial (NASDAQ:OCFC) last released its earnings results on Thursday, January 22nd. The savings and loans company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. OceanFirst Financial had a net margin of 10.33% and a return on equity of 5.14%. The firm had revenue of $104.69 million for the quarter, compared to the consensus estimate of $103.20 million. As a group, equities research analysts anticipate that OceanFirst Financial Corp. will post 1.6 EPS for the current fiscal year.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, February 2nd. OceanFirst Financial’s payout ratio is currently 68.97%.

Analyst Ratings Changes

Several brokerages recently commented on OCFC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of OceanFirst Financial in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 28th. Zacks Research upgraded shares of OceanFirst Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. DA Davidson cut OceanFirst Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Raymond James Financial lowered OceanFirst Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.33.

About OceanFirst Financial

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.