OceanFirst Financial Corp. $OCFC Stake Increased by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. raised its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 18.7% in the third quarter, Holdings Channel reports. The firm 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 4.8% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 8th biggest holding. Endeavour Capital Advisors Inc.’s holdings in OceanFirst Financial were worth $15,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in OceanFirst Financial by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 398,036 shares of the savings and loans company’s stock worth $7,009,000 after buying an additional 11,646 shares in the last quarter. American Century Companies Inc. boosted its holdings in OceanFirst Financial by 1.1% in the second quarter. American Century Companies Inc. now owns 1,340,968 shares of the savings and loans company’s stock worth $23,614,000 after purchasing an additional 14,590 shares during the last quarter. CSM Advisors LLC bought a new stake in OceanFirst Financial in the 2nd quarter worth approximately $5,182,000. MQS Management LLC purchased a new stake in OceanFirst Financial during the 2nd quarter valued at $282,000. Finally, Creative Planning lifted its holdings in shares of OceanFirst Financial by 124.5% during the 2nd quarter. Creative Planning now owns 89,374 shares of the savings and loans company’s stock valued at $1,574,000 after buying an additional 49,571 shares during the period. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Stock Performance

Shares of NASDAQ OCFC opened at $19.51 on Thursday. The stock has a market cap of $1.12 billion, a PE ratio of 16.82 and a beta of 1.07. OceanFirst Financial Corp. has a 1 year low of $14.29 and a 1 year high of $20.61. The firm has a fifty day moving average price of $18.99 and a 200-day moving average price of $18.41. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.03 and a quick ratio of 1.03.

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

OceanFirst Financial Dividend Announcement

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

Analysts Set New Price Targets

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

OceanFirst Financial Company Profile

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.