Federated Hermes Inc. trimmed its stake in OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) by 48.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,940 shares of the savings and loans company’s stock after selling 121,171 shares during the period. Federated Hermes Inc. owned 0.22% of OceanFirst Financial worth $2,441,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in OCFC. Quadrant Capital Group LLC grew its holdings in OceanFirst Financial by 3,381.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,497 shares of the savings and loans company’s stock valued at $28,000 after buying an additional 1,454 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in OceanFirst Financial in the 2nd quarter valued at approximately $41,000. Wipfli Financial Advisors LLC acquired a new stake in OceanFirst Financial in the 3rd quarter valued at approximately $46,000. Great West Life Assurance Co. Can grew its holdings in OceanFirst Financial by 23.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock valued at $103,000 after buying an additional 919 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in OceanFirst Financial by 234.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,365 shares of the savings and loans company’s stock valued at $119,000 after buying an additional 4,463 shares during the last quarter. 69.77% of the stock is owned by institutional investors.
OceanFirst Financial Price Performance
Shares of NASDAQ:OCFC opened at $20.94 on Friday. OceanFirst Financial Corp. has a 1-year low of $18.24 and a 1-year high of $24.93. The firm has a market capitalization of $1.24 billion, a PE ratio of 8.65 and a beta of 0.91. The business’s 50 day moving average is $23.15 and its 200-day moving average is $21.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.90.
OceanFirst Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. OceanFirst Financial’s dividend payout ratio (DPR) is presently 33.06%.
Analyst Ratings Changes
Several analysts have recently weighed in on OCFC shares. StockNews.com lowered OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Piper Sandler lowered OceanFirst Financial from an “overweight” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Monday, December 12th.
OceanFirst Financial Profile
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.
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