OceanFirst Financial Corp. (OCFC) Shares Bought by Sei Investments Co.
Sei Investments Co. grew its holdings in OceanFirst Financial Corp. (NASDAQ:OCFC) by 145.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,326 shares of the savings and loans company’s stock after buying an additional 5,530 shares during the quarter. Sei Investments Co.’s holdings in OceanFirst Financial were worth $280,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank lifted its holdings in OceanFirst Financial by 32.5% in the 2nd quarter. Comerica Bank now owns 105,095 shares of the savings and loans company’s stock worth $3,131,000 after buying an additional 25,751 shares during the period. Millennium Management LLC lifted its holdings in OceanFirst Financial by 58.1% in the 1st quarter. Millennium Management LLC now owns 496,997 shares of the savings and loans company’s stock worth $13,295,000 after buying an additional 182,674 shares during the period. Foundry Partners LLC purchased a new stake in OceanFirst Financial in the 2nd quarter worth approximately $487,000. Swiss National Bank lifted its holdings in OceanFirst Financial by 47.7% in the 1st quarter. Swiss National Bank now owns 66,333 shares of the savings and loans company’s stock worth $1,774,000 after buying an additional 21,431 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in OceanFirst Financial by 18.5% in the 1st quarter. California Public Employees Retirement System now owns 44,050 shares of the savings and loans company’s stock worth $1,178,000 after buying an additional 6,891 shares during the period. Institutional investors and hedge funds own 73.87% of the company’s stock.
In other news, Director Kimberly M. Guadagno bought 1,725 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was purchased at an average price of $28.93 per share, with a total value of $49,904.25. Following the transaction, the director now owns 1,725 shares of the company’s stock, valued at $49,904.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.
OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, July 26th. The savings and loans company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. OceanFirst Financial had a return on equity of 8.97% and a net margin of 16.84%. The firm had revenue of $70.33 million during the quarter, compared to analyst estimates of $72.43 million. equities research analysts forecast that OceanFirst Financial Corp. will post 2.05 EPS for the current year.
Several equities research analysts have weighed in on OCFC shares. BidaskClub upgraded OceanFirst Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, July 4th. DA Davidson increased their price objective on OceanFirst Financial from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 24th. Raymond James began coverage on OceanFirst Financial in a research report on Thursday, June 28th. They issued an “outperform” rating and a $33.00 target price for the company. Finally, Hovde Group reissued a “buy” rating and issued a $34.00 target price on shares of OceanFirst Financial in a research report on Monday, June 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. OceanFirst Financial currently has a consensus rating of “Buy” and a consensus target price of $33.29.
About OceanFirst Financial
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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