OceanFirst Financial Corp. (NASDAQ:OCFC) is expected to pay $0.15 on Nov 18, 2016. The indicated annual dividend is $0.60. Shareholders owning the stock before Nov 3, 2016 will be eligible to receive the payout. Based on OceanFirst Financial Corp.’s current price of $20.67, the dividend is 0.73%. This dividend’s record date is Nov 7, 2016 and the announcement date is Oct 28, 2016. The stock closed at $20.67 during the last session. It is down 16.91% since March 31, 2016 and is uptrending. It has outperformed by 14.39% the S&P500.
OceanFirst Financial Corp. is a holding firm for OceanFirst Bank . The company has a market cap of $534.08 million. The Firm is a savings and loan holding company. It has a 19.4 P/E ratio. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
Insitutional Activity: The institutional sentiment increased to 3 in 2016 Q2. Its up 1.28, from 1.72 in 2016Q1. The ratio increased, as 5 funds sold all OceanFirst Financial Corp. shares owned while 19 reduced positions. 26 funds bought stakes while 46 increased positions. They now own 16.03 million shares or 42.43% more from 11.25 million shares in 2016Q1.
Rhumbline Advisers has 27,968 shares for 0% of their US portfolio. Federated Pa holds 5,202 shares or 0% of its portfolio. Glenmede Trust Co Na holds 637 shares or 0% of its portfolio. Kennedy Cap Mngmt Incorporated has 464,978 shares for 0.17% of their US portfolio. Mendon Advsrs Corporation owns 240,060 shares or 0.45% of their US portfolio. Alphaone Investment Service owns 129,400 shares or 0.87% of their US portfolio. The Delaware-based Blackrock Advsr Ltd Limited Liability Company has invested 0% in OceanFirst Financial Corp. (NASDAQ:OCFC). Cornercap Invest Counsel last reported 0.09% of its portfolio in the stock. New York State Common Retirement Fund accumulated 21,200 shares or 0% of the stock. Hutchin Hill Lp holds 66,268 shares or 0.04% of its portfolio. Moreover, D E Shaw & has 0% invested in OceanFirst Financial Corp. (NASDAQ:OCFC) for 25,020 shares. The Pennsylvania-based Vanguard Grp Inc Inc has invested 0% in OceanFirst Financial Corp. (NASDAQ:OCFC). Private Management Ltd Liability Corp owns 346,366 shares or 0.92% of their US portfolio. Corbyn Mgmt Md holds 0.35% of its portfolio in OceanFirst Financial Corp. (NASDAQ:OCFC) for 58,838 shares. Amer accumulated 11,801 shares or 0% of the stock.
Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 2 sales for $3.27 million net activity. The insider GARBARINO JOHN R sold $3.08M.
OceanFirst Financial Corp. (NASDAQ:OCFC) Ratings Coverage
Out of 2 analysts covering OceanFirst Financial Corp. (NASDAQ:OCFC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. OceanFirst Financial Corp. has been the topic of 4 analyst reports since September 1, 2015 according to StockzIntelligence Inc. Piper Jaffray initiated the stock with “Overweight” rating in Wednesday, September 16 report. Zacks upgraded OceanFirst Financial Corp. (NASDAQ:OCFC) on Tuesday, September 1 to “Sell” rating.
More notable recent OceanFirst Financial Corp. (NASDAQ:OCFC) news were published by: Globenewswire.com which released: “OceanFirst Financial Corp. Completes Acquisition of Cape Bancorp, Inc.” on May 02, 2016, also Globenewswire.com with their article: “OceanFirst Financial Corp. Announces Agreement to Acquire Colonial American …” published on February 25, 2015, Globenewswire.com published: “OceanFirst Financial Corp. Expands Central and Southern New Jersey Presence …” on January 06, 2016. More interesting news about OceanFirst Financial Corp. (NASDAQ:OCFC) were released by: Seekingalpha.com and their article: “OceanFirst Financial’s (OCFC) CEO Christopher Maher on Q3 2016 Results …” published on October 29, 2016 as well as Globenewswire.com‘s news article titled: “OceanFirst Financial Corp. Completes Acquisition of Colonial American Bank” with publication date: August 03, 2015.
OCFC Company Profile
OceanFirst Financial Corp., incorporated on November 21, 1995, is a holding firm for OceanFirst Bank (the Bank). The Firm is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans. The Bank also invests in other types of loans, including residential construction and consumer loans. In addition, the Bank invests in mortgage-backed securities (MBS), securities issued by the United States Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations. The Bank’s revenues are derived principally from interest on its loans, interest on its investment and MBS. The Bank also receives income from fees and service charges on loan and deposit products, wealth management services, Bankcard services and the sale of alternative investment products, such as mutual funds, annuities and life insurance. The Bank’s primary sources of funds are deposits, principal and interest payments on loans, investments and mortgage-backed securities, investment maturities, proceeds from the sale of loans, Federal Home Loan Bank (FHLB) advances and other borrowings.
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