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Oceanfirst Financial Corp (OCFC): EJF Capital Adds to Its Position

Published on September 28, 2016 at 9:32 am by Insider Monkey Staff in Hedge Funds, News
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EJF Capital, managed by Emanuel J. Friedman, has reported via a 13G filing with the SEC that it has raised its stake in Oceanfirst Financial Corp (NASDAQ:OCFC). The fund currently owns 1.52 million shares of the company, accounting for 5.9% of its outstanding shares, compared to the 1.07 million shares that it held on June 30.

Oceanfirst Financial is a holding company for Oceanfirst Bank. Over the past 12 months, the company’s stock has gone up by 12.16%. For the second quarter of 2016, Oceanfirst Financial reported earnings per share of $0.16 and revenue of $30.01 million, topping analysts’ estimates for EPS of $0.06 and revenue of $28.5 million.

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At the end of June, there were 13 investors from within Insider Monkey’s database that were bullish on Oceanfirst Financial (NASDAQ:OCFC), compared to 12 a quarter earlier. Some of the investors who reported holding long positions in the company as of June 30 encompassed Jim Simons’ Renaissance Technologies, which held a position valued at $14.19 million, Gregg J. Powers’ Private Capital Management, with a position worth $6.29 million, Anton Schutz’ Mendon Capital Advisors, John Overdeck and David Siegel’s Two Sigma Advisors, and Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
EJF Capital 0 1,519,119 0 1,519,119 1,519,119 5.9%
Emanuel J. Friedman 0 1,519,119 0 1,519,119 1,519,119 5.9%
EJF Financial Services Fund 0 1,519,119 0 1,519,119 1,519,119 5.9%
EJF Financial Services GP 0 1,519,119 0 1,519,119 1,519,119 5.9%

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Page 1 of 8 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
OceanFirst Financial Corp.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
675234108
(CUSIP Number)
September 19, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
ý Rule 13d-1(c)
☐ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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