Aigen Investment Management LP Purchases Shares of 12,120 OceanFirst Financial Corp. (NASDAQ:OCFC)

Aigen Investment Management LP acquired a new stake in OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,120 shares of the savings and loans company’s stock, valued at approximately $258,000.

A number of other hedge funds also recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in OceanFirst Financial by 3,381.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,497 shares of the savings and loans company’s stock worth $28,000 after acquiring an additional 1,454 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of OceanFirst Financial by 23.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock worth $103,000 after acquiring an additional 919 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of OceanFirst Financial by 234.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,365 shares of the savings and loans company’s stock worth $119,000 after acquiring an additional 4,463 shares in the last quarter. Bank of Nova Scotia acquired a new position in OceanFirst Financial during the fourth quarter valued at approximately $213,000. Finally, Dakota Wealth Management lifted its stake in OceanFirst Financial by 4.2% during the fourth quarter. Dakota Wealth Management now owns 10,776 shares of the savings and loans company’s stock worth $229,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.

OceanFirst Financial Stock Performance

NASDAQ:OCFC opened at $14.62 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 1.05. OceanFirst Financial Corp. has a fifty-two week low of $12.81 and a fifty-two week high of $24.93. The company has a 50 day simple moving average of $16.41 and a two-hundred day simple moving average of $20.51. The company has a market capitalization of $869.74 million, a PE ratio of 5.94 and a beta of 0.88.

OceanFirst Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.47%. OceanFirst Financial’s payout ratio is presently 32.52%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OCFC. Keefe, Bruyette & Woods dropped their price objective on OceanFirst Financial from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. DA Davidson dropped their price objective on shares of OceanFirst Financial from $26.00 to $20.00 in a research note on Monday, April 24th. TheStreet downgraded shares of OceanFirst Financial from a “b-” rating to a “c+” rating in a report on Thursday, May 11th. Stephens reiterated an “equal weight” rating and issued a $23.00 price target on shares of OceanFirst Financial in a research note on Friday, April 21st. Finally, StockNews.com assumed coverage on OceanFirst Financial in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.50.

Insider Buying and Selling

In related news, Director Joseph M. Jr. Murphy acquired 6,473 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were purchased at an average price of $15.45 per share, for a total transaction of $100,007.85. Following the completion of the acquisition, the director now owns 175,563 shares of the company’s stock, valued at $2,712,448.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Steven James Tsimbinos acquired 2,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $22.12 per share, for a total transaction of $44,240.00. Following the purchase, the vice president now owns 3,000 shares in the company, valued at approximately $66,360. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph M. Jr. Murphy bought 6,473 shares of OceanFirst Financial stock in a transaction dated Thursday, April 27th. The stock was acquired at an average cost of $15.45 per share, with a total value of $100,007.85. Following the completion of the acquisition, the director now owns 175,563 shares of the company’s stock, valued at $2,712,448.35. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,116 shares of company stock valued at $309,699 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

OceanFirst Financial Company Profile

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OceanFirst Financial Corp. operates as a savings and loan holding company, which engages in the provision of financial services. Its subsidiary OceanFirst Bank, offers commercial and residential financing solutions, wealth management, and deposit services. It has retail branches throughout the state and in metropolitan New York City along with loan production offices in New Jersey, New York City and Pennsylvania.