Kennedy Capital Management Inc. Increases Position in OceanFirst Financial Corp. (OCFC)
Kennedy Capital Management Inc. boosted its stake in OceanFirst Financial Corp. (NASDAQ:OCFC) by 15.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 473,252 shares of the savings and loans company’s stock after buying an additional 64,460 shares during the period. Kennedy Capital Management Inc. owned approximately 1.47% of OceanFirst Financial Corp. worth $12,835,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its stake in OceanFirst Financial Corp. by 80.5% in the 2nd quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock valued at $102,000 after buying an additional 1,684 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in OceanFirst Financial Corp. by 2,366.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after buying an additional 3,786 shares during the last quarter. Legal & General Group Plc grew its stake in OceanFirst Financial Corp. by 6.8% in the 1st quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock valued at $184,000 after buying an additional 418 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in OceanFirst Financial Corp. in the 1st quarter valued at about $228,000. Finally, Bank of America Corp DE grew its stake in OceanFirst Financial Corp. by 55.0% in the 1st quarter. Bank of America Corp DE now owns 14,241 shares of the savings and loans company’s stock valued at $402,000 after buying an additional 5,054 shares during the last quarter. Institutional investors and hedge funds own 67.62% of the company’s stock.
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In other news, Director Steven E. Brady sold 3,825 shares of OceanFirst Financial Corp. stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.89, for a total value of $95,204.25. Following the completion of the transaction, the director now owns 67,177 shares in the company, valued at $1,672,035.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is owned by company insiders.
Shares of OceanFirst Financial Corp. (NASDAQ OCFC) opened at 24.25 on Friday. The firm has a 50-day moving average of $25.82 and a 200-day moving average of $27.21. The company has a market cap of $778.96 million, a P/E ratio of 20.96 and a beta of 0.63. OceanFirst Financial Corp. has a 12-month low of $18.99 and a 12-month high of $30.70.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were paid a $0.15 dividend. This is an increase from OceanFirst Financial Corp.’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. OceanFirst Financial Corp.’s dividend payout ratio (DPR) is presently 51.72%.
A number of research analysts recently commented on the stock. Zacks Investment Research upgraded shares of OceanFirst Financial Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub lowered shares of OceanFirst Financial Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.
OceanFirst Financial Corp. Company Profile
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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