Curi RMB Capital LLC Has $930,000 Stock Position in OceanFirst Financial Corp. (NASDAQ:OCFC)

Curi RMB Capital LLC reduced its stake in shares of OceanFirst Financial Corp. (NASDAQ:OCFC) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,000 shares of the savings and loans company’s stock after selling 25,000 shares during the quarter. Curi RMB Capital LLC’s holdings in OceanFirst Financial were worth $930,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of OceanFirst Financial during the 3rd quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of OceanFirst Financial during the 2nd quarter worth $25,000. Acadian Asset Management LLC acquired a new stake in shares of OceanFirst Financial during the 1st quarter worth $39,000. Meeder Asset Management Inc. acquired a new stake in shares of OceanFirst Financial during the 2nd quarter worth $62,000. Finally, EMC Capital Management acquired a new stake in shares of OceanFirst Financial during the 1st quarter worth $150,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OCFC has been the topic of several research analyst reports. Piper Sandler set a $17.00 price objective on OceanFirst Financial and gave the company a “neutral” rating in a research note on Friday, October 18th. Hovde Group raised their price objective on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.30.

OceanFirst Financial Trading Up 0.1 %

Shares of OCFC stock opened at $20.49 on Friday. The company has a market cap of $1.20 billion, a P/E ratio of 11.71 and a beta of 1.01. The stock has a 50 day simple moving average of $18.39 and a two-hundred day simple moving average of $16.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. OceanFirst Financial Corp. has a fifty-two week low of $13.41 and a fifty-two week high of $21.34.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 17th. The savings and loans company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. The firm had revenue of $96.90 million during the quarter, compared to analysts’ expectations of $92.79 million. Research analysts forecast that OceanFirst Financial Corp. will post 1.59 earnings per share for the current year.

OceanFirst Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%. OceanFirst Financial’s dividend payout ratio (DPR) is presently 45.71%.

Insider Buying and Selling at OceanFirst Financial

In related news, Director Joseph M. Jr. Murphy sold 1,500 shares of OceanFirst Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.03, for a total transaction of $30,045.00. Following the transaction, the director now owns 177,417 shares of the company’s stock, valued at $3,553,662.51. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.00% of the company’s stock.

OceanFirst Financial Company Profile

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.