SG Americas Securities LLC boosted its holdings in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 51.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,159 shares of the savings and loans company’s stock after purchasing an additional 2,092 shares during the period. SG Americas Securities LLC’s holdings in OceanFirst Financial were worth $185,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in OceanFirst Financial by 24.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 409,098 shares of the savings and loans company’s stock valued at $12,257,000 after purchasing an additional 80,674 shares during the period. Rhumbline Advisers increased its holdings in OceanFirst Financial by 16.0% during the 2nd quarter. Rhumbline Advisers now owns 49,076 shares of the savings and loans company’s stock valued at $1,470,000 after purchasing an additional 6,758 shares during the period. Sei Investments Co. increased its holdings in OceanFirst Financial by 145.7% during the 2nd quarter. Sei Investments Co. now owns 9,326 shares of the savings and loans company’s stock valued at $280,000 after purchasing an additional 5,530 shares during the period. Victory Capital Management Inc. increased its holdings in OceanFirst Financial by 2.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,053,967 shares of the savings and loans company’s stock valued at $31,576,000 after purchasing an additional 26,755 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in OceanFirst Financial by 38.9% during the 2nd quarter. Wells Fargo & Company MN now owns 303,797 shares of the savings and loans company’s stock valued at $9,102,000 after purchasing an additional 85,038 shares during the period. Institutional investors own 73.87% of the company’s stock.

OceanFirst Financial stock opened at $26.98 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.36 and a beta of 0.50. OceanFirst Financial Corp. has a fifty-two week low of $25.00 and a fifty-two week high of $30.90.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $70.33 million for the quarter, compared to analysts’ expectations of $72.43 million. OceanFirst Financial had a return on equity of 8.97% and a net margin of 16.84%. analysts forecast that OceanFirst Financial Corp. will post 2.05 earnings per share for the current year.

A number of research analysts recently issued reports on OCFC shares. BidaskClub upgraded OceanFirst Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Hovde Group restated a “buy” rating and set a $34.00 price target on shares of OceanFirst Financial in a report on Monday, June 25th. Raymond James started coverage on OceanFirst Financial in a report on Thursday, June 28th. They set an “outperform” rating and a $33.00 price target on the stock. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Wednesday, July 4th. Finally, ValuEngine downgraded OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. OceanFirst Financial presently has an average rating of “Hold” and an average price target of $34.00.

In other news, Director Kimberly M. Guadagno acquired 1,725 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were acquired at an average cost of $28.93 per share, with a total value of $49,904.25. Following the transaction, the director now owns 1,725 shares in the company, valued at approximately $49,904.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.80% of the company’s stock.

OceanFirst Financial Profile

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

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Institutional Ownership by Quarter for OceanFirst Financial (NASDAQ:OCFC)

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