Natixis Advisors L.P. Decreases Stock Position in OceanFirst Financial Corp. (NASDAQ:OCFC)

Posted by Defense World Staff on Apr 25th, 2023

Natixis Advisors L.P. cut its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,322 shares of the savings and loans company’s stock after selling 716 shares during the quarter. Natixis Advisors L.P.’s holdings in OceanFirst Financial were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in shares of OceanFirst Financial by 3,381.4% during the third quarter. Quadrant Capital Group LLC now owns 1,497 shares of the savings and loans company’s stock valued at $28,000 after acquiring an additional 1,454 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in OceanFirst Financial during the 3rd quarter valued at about $46,000. Great West Life Assurance Co. Can raised its position in 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 valued at $103,000 after purchasing an additional 919 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 worth $119,000 after buying an additional 4,463 shares during the period. Finally, Newport Capital Group LLC purchased a new position in shares of OceanFirst Financial during the third quarter valued at approximately $205,000. 69.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OCFC has been the subject of a number of research analyst reports. StockNews.com began coverage on OceanFirst Financial in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Stephens reiterated an “equal weight” rating and set a $23.00 price target on shares of OceanFirst Financial in a research report on Friday. Keefe, Bruyette & Woods reduced their price target on shares of OceanFirst Financial from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Finally, DA Davidson lowered their price objective on shares of OceanFirst Financial from $26.00 to $20.00 in a report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.50.

OceanFirst Financial Stock Down 0.1 %

NASDAQ:OCFC opened at $16.26 on Tuesday. OceanFirst Financial Corp. has a 1-year low of $15.96 and a 1-year high of $24.93. The company has a market capitalization of $962.59 million, a PE ratio of 6.61 and a beta of 0.89. The firm’s 50-day moving average price is $20.24 and its 200-day moving average price is $21.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.03 and a quick ratio of 1.03.

OceanFirst Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Monday, May 8th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Friday, May 5th. OceanFirst Financial’s dividend payout ratio (DPR) is presently 32.52%.

Insider Buying and Selling at OceanFirst Financial

In related news, Director Joseph M. Jr. Murphy purchased 3,643 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $21.93 per share, for a total transaction of $79,890.99. Following the purchase, the director now directly owns 3,643 shares of the company’s stock, valued at approximately $79,890.99. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joseph M. Jr. Murphy purchased 3,643 shares of OceanFirst Financial stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $21.93 per share, for a total transaction of $79,890.99. Following the completion of the acquisition, the director now directly owns 3,643 shares of the company’s stock, valued at $79,890.99. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Steven James Tsimbinos purchased 2,000 shares of the company’s stock in a transaction that occurred 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 $66,360. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,643 shares of company stock valued at $146,121. Corporate insiders own 4.90% of the company’s stock.

About OceanFirst Financial

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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.