OceanFirst Financial Corp. (NASDAQ:OCFC) EVP Brian Schaeffer Sells 3,500 Shares of Stock

OceanFirst Financial Corp. (NASDAQ:OCFC) EVP Brian Schaeffer sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.49, for a total value of $54,215.00. Following the sale, the executive vice president now directly owns 41,868 shares in the company, valued at approximately $648,535.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

OceanFirst Financial Stock Performance

Shares of NASDAQ OCFC traded down $0.04 during mid-day trading on Wednesday, hitting $15.47. The stock had a trading volume of 26,757 shares, compared to its average volume of 310,810. The company has a 50 day moving average of $15.31 and a two-hundred day moving average of $15.49. OceanFirst Financial Corp. has a twelve month low of $12.01 and a twelve month high of $19.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $908.24 million, a PE ratio of 9.07 and a beta of 1.01.

OceanFirst Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend is Friday, May 3rd. OceanFirst Financial’s payout ratio is 46.78%.

Analyst Ratings Changes

Several research firms have commented on OCFC. StockNews.com raised shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Raymond James lowered their target price on shares of OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price target (down from $22.00) on shares of OceanFirst Financial in a research report on Monday, April 22nd. Finally, Stephens reissued an “equal weight” rating and issued a $20.00 price objective on shares of OceanFirst Financial in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.20.

Hedge Funds Weigh In On OceanFirst Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners boosted its holdings in shares of OceanFirst Financial by 11.1% in the 3rd quarter. Boston Partners now owns 1,394,141 shares of the savings and loans company’s stock valued at $19,660,000 after acquiring an additional 139,646 shares during the last quarter. Eagle Wealth Strategies LLC purchased a new stake in OceanFirst Financial in the fourth quarter valued at $946,000. GSA Capital Partners LLP acquired a new stake in OceanFirst Financial during the 3rd quarter worth about $1,015,000. Charles Schwab Investment Management Inc. raised its stake in shares of OceanFirst Financial by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,344 shares of the savings and loans company’s stock valued at $10,062,000 after buying an additional 43,649 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of OceanFirst Financial in the 4th quarter valued at about $1,701,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.