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

OceanFirst Financial Corp. (NASDAQ:OCFC) EVP Brian Schaeffer sold 3,500 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.49, for a total value of $54,215.00. Following the completion of the sale, the executive vice president now 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 accessible through this link.

OceanFirst Financial Trading Down 0.3 %

OCFC stock traded down $0.04 during trading on Wednesday, reaching $15.47. The company had a trading volume of 26,757 shares, compared to its average volume of 310,810. The business has a 50 day moving average of $15.31 and a 200 day moving average of $15.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $908.24 million, a P/E ratio of 9.07 and a beta of 1.01. OceanFirst Financial Corp. has a 52 week low of $12.01 and a 52 week high of $19.58.

OceanFirst Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Friday, May 3rd. OceanFirst Financial’s payout ratio is presently 46.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OCFC. Raymond James reduced their price objective on OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $19.00 price target (down from $22.00) on shares of OceanFirst Financial in a research note on Monday, April 22nd. Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of OceanFirst Financial in a report on Friday, April 19th. Finally, StockNews.com upgraded shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.20.

Institutional Investors Weigh In On OceanFirst Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of OceanFirst Financial in the 3rd quarter worth approximately $34,000. International Assets Investment Management LLC boosted its holdings in OceanFirst Financial by 1,240.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock worth $60,000 after acquiring an additional 3,213 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of OceanFirst Financial by 19.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock worth $139,000 after acquiring an additional 1,550 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of OceanFirst Financial during the first quarter valued at $172,000. Finally, Chapin Davis Inc. purchased a new position in shares of OceanFirst Financial in the 4th quarter worth about $207,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

About OceanFirst Financial

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.