OceanFirst Financial (OCFC) Expected to Announce Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) is projected to post its quarterly earnings results before the market opens on Thursday, April 17th. Analysts expect OceanFirst Financial to post earnings of $0.35 per share and revenue of $95.66 million for the quarter.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. On average, analysts expect OceanFirst Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

OceanFirst Financial Stock Performance

OCFC stock opened at $15.72 on Thursday. OceanFirst Financial has a 1-year low of $14.03 and a 1-year high of $21.87. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $17.19 and a 200-day moving average price of $18.29. The firm has a market cap of $920.52 million, a PE ratio of 9.53 and a beta of 0.94.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s dividend payout ratio (DPR) is 48.48%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stephens restated an “equal weight” rating and issued a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. Hovde Group lowered their target price on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, January 27th. Finally, Raymond James reduced their price target on shares of OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.00.

About OceanFirst Financial

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.