OceanFirst Financial (OCFC) Set to Announce Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFCGet Rating) will be posting its quarterly earnings results after the market closes on Thursday, April 28th. Analysts expect OceanFirst Financial to post earnings of $0.46 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFCGet Rating) last posted its earnings results on Thursday, January 27th. The savings and loans company reported $0.48 EPS for the quarter. The firm had revenue of $90.00 million during the quarter. OceanFirst Financial had a return on equity of 7.56% and a net margin of 27.94%. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, analysts expect OceanFirst Financial to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NASDAQ OCFC opened at $19.83 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $1.17 billion, a P/E ratio of 11.14 and a beta of 0.86. OceanFirst Financial has a one year low of $18.57 and a one year high of $24.25. The stock has a 50 day moving average price of $21.00 and a 200-day moving average price of $21.74.

The company also recently announced a quarterly dividend, which was paid on Friday, February 18th. Stockholders of record on Monday, February 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.43%. OceanFirst Financial’s dividend payout ratio is currently 38.20%.

In other OceanFirst Financial news, CAO Michele B. Estep sold 3,790 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $22.17, for a total value of $84,024.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicos Katsoulis bought 2,000 shares of OceanFirst Financial stock in a transaction on Thursday, March 10th. The stock was acquired at an average price of $21.40 per share, for a total transaction of $42,800.00. The disclosure for this purchase can be found here. Insiders have sold a total of 36,883 shares of company stock worth $817,696 in the last 90 days. 4.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of OceanFirst Financial by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,145,964 shares of the savings and loans company’s stock worth $114,241,000 after buying an additional 83,760 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of OceanFirst Financial by 7.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,072,375 shares of the savings and loans company’s stock worth $46,007,000 after buying an additional 146,982 shares in the last quarter. State Street Corp grew its position in shares of OceanFirst Financial by 4.4% during the 4th quarter. State Street Corp now owns 1,691,974 shares of the savings and loans company’s stock worth $37,562,000 after buying an additional 71,632 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of OceanFirst Financial by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 526,190 shares of the savings and loans company’s stock worth $11,266,000 after buying an additional 22,071 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of OceanFirst Financial by 14.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,154 shares of the savings and loans company’s stock worth $10,482,000 after buying an additional 59,157 shares in the last quarter. Institutional investors and hedge funds own 68.46% of the company’s stock.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, March 16th. StockNews.com started coverage on OceanFirst Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, OceanFirst Financial has a consensus rating of “Buy” and a consensus target price of $24.63.

About OceanFirst Financial (Get Rating)

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

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Earnings History for OceanFirst Financial (NASDAQ:OCFC)

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