OceanFirst Financial Corp. $OCFC Shares Sold by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. decreased its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 799,997 shares of the savings and loans company’s stock after selling 97,094 shares during the period. OceanFirst Financial comprises 4.0% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 9th largest holding. Endeavour Capital Advisors Inc.’s holdings in OceanFirst Financial were worth $14,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in OceanFirst Financial by 458.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,526 shares of the savings and loans company’s stock valued at $150,000 after purchasing an additional 6,998 shares during the period. Byrne Asset Management LLC acquired a new position in OceanFirst Financial during the 4th quarter worth approximately $155,000. CANADA LIFE ASSURANCE Co increased its position in OceanFirst Financial by 7.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,285 shares of the savings and loans company’s stock worth $181,000 after purchasing an additional 673 shares during the period. ProShare Advisors LLC purchased a new position in shares of OceanFirst Financial during the 4th quarter worth approximately $184,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of OceanFirst Financial by 7.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the savings and loans company’s stock worth $206,000 after buying an additional 811 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on OCFC. Wall Street Zen upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 28th. DA Davidson increased their price objective on OceanFirst Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of OceanFirst Financial in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, OceanFirst Financial currently has an average rating of “Hold” and an average target price of $21.67.

OceanFirst Financial Stock Performance

OceanFirst Financial stock opened at $18.72 on Tuesday. OceanFirst Financial Corp. has a fifty-two week low of $16.09 and a fifty-two week high of $20.61. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.00 and a beta of 1.01. The stock has a fifty day moving average of $18.48 and a two-hundred day moving average of $18.67. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 1.00.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $103.20 million for the quarter, compared to the consensus estimate of $143.25 million. OceanFirst Financial had a return on equity of 5.35% and a net margin of 10.04%. On average, analysts anticipate that OceanFirst Financial Corp. will post 1.83 EPS for the current fiscal year.

OceanFirst Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, April 27th. OceanFirst Financial’s dividend payout ratio is 68.38%.

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.