From MarketBeat:

Peregrine Capital Management LLC cut its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 69.0% in the 3rd quarter, selling 328,910 shares, now owning 147,748 shares worth $2,138,000. Several hedge funds also made changes to their positions in OCFC, currently with 70.40% of the stock owned by institutional investors.

Analyst Ratings Changes:
Piper Sandler dropped their price target on OceanFirst Financial from $17.00 to $15.00, while DA Davidson downgraded the company from a “buy” rating to a “neutral” rating and set a $17.00 price target. The stock currently has an average rating of “Hold” with a consensus target price of $19.50.

OceanFirst Financial Stock Down 2.6%:
Shares of NASDAQ:OCFC opened at $17.36 and saw its 50-day moving average at $14.78. They last issued earnings results on October 19th, posting $0.32 EPS for the quarter, missing the consensus estimate by ($0.05).

OceanFirst Financial Dividend Announcement:
The company also recently declared a quarterly dividend, with stockholders of record on November 6th being issued a dividend of $0.20 per share, representing a $0.80 annualized dividend and a dividend yield of 4.61%.

Insider Transactions at OceanFirst Financial:
Insider Anthony Giordano III purchased 2,345 shares of OceanFirst Financial stock on October 26th at $12.75 per share, following other insider transactions in the last three months. Insiders now own 4.60% of the company’s stock.

OceanFirst Financial Company Profile:
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. It provides community banking services, accepting money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers.



Read more: Peregrine Capital Management LLC Sells 328,910 Shares of OceanFirst Financial Corp. (NASDAQ:OCFC)