Wedge Capital Management L L P NC trimmed its position in shares of OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) by 3.9% during the second quarter, HoldingsChannel reports. The firm owned 355,374 shares of the savings and loans company’s stock after selling 14,589 shares during the quarter. Wedge Capital Management L L P NC’s holdings in OceanFirst Financial were worth $6,798,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in OCFC. Addison Capital Co raised its stake in OceanFirst Financial by 29.7% during the 2nd quarter. Addison Capital Co now owns 86,163 shares of the savings and loans company’s stock worth $1,648,000 after buying an additional 19,752 shares during the period. Amalgamated Bank acquired a new stake in shares of OceanFirst Financial during the first quarter worth about $141,000. Bank of America Corp DE lifted its holdings in shares of OceanFirst Financial by 18.9% during the 1st quarter. Bank of America Corp DE now owns 259,275 shares of the savings and loans company’s stock valued at $5,211,000 after purchasing an additional 41,136 shares in the last quarter. Keeley Teton Advisors LLC grew its position in shares of OceanFirst Financial by 9.9% in the 1st quarter. Keeley Teton Advisors LLC now owns 228,799 shares of the savings and loans company’s stock valued at $4,599,000 after purchasing an additional 20,593 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in OceanFirst Financial by 1.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 105,000 shares of the savings and loans company’s stock worth $2,111,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 70.54% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on OCFC shares. StockNews.com raised shares of OceanFirst Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating on shares of OceanFirst Financial in a research report on Wednesday, July 27th.
OceanFirst Financial Stock Down 1.1 %
NASDAQ:OCFC opened at $20.28 on Wednesday. The stock has a 50-day simple moving average of $20.18 and a 200 day simple moving average of $19.82. OceanFirst Financial Corp. has a 52-week low of $18.24 and a 52-week high of $24.25. The company has a market cap of $1.20 billion, a PE ratio of 12.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 0.97.
OceanFirst Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were paid a dividend of $0.20 per share. This is a boost from OceanFirst Financial’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, August 5th. OceanFirst Financial’s dividend payout ratio (DPR) is currently 48.49%.
About OceanFirst Financial
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers.
- Get a free copy of the StockNews.com research report on OceanFirst Financial (OCFC)
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