OceanFirst Financial (NASDAQ: OCFC – Get a rating) is expected to release earnings data after the market closes on Thursday, April 28. Analysts expect OceanFirst Financial to post earnings of $0.46 per share for the quarter. Individuals wishing to register for the company’s earnings conference call can do so using this link.
OceanFirst Financial (NASDAQ: OCFC – Get a rating) last reported results on Thursday, January 27. The savings and loan company reported earnings per share of $0.48 for the quarter. OceanFirst Financial posted a net margin of 27.94% and a return on equity of 7.56%. The company had revenue of $90.00 million for the quarter. In the same period a year earlier, the company earned earnings per share of $0.39. On average, analysts expect OceanFirst Financial to post EPS of $2 for the current fiscal year and EPS of $3 for the next fiscal year.
NASDAQ:OCFC opened at $19.83 on Thursday. The company’s fifty-day moving average is $21.00 and its 200-day moving average is $21.74. The company has a debt ratio of 0.16, a quick ratio of 0.90 and a current ratio of 0.90. OceanFirst Financial has a 52-week low of $18.57 and a 52-week high of $24.25. The company has a market capitalization of $1.17 billion, a P/E ratio of 11.14 and a beta of 0.86.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, February 18. Shareholders of record on Monday, February 7 received a dividend of $0.17. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Friday, February 4. OceanFirst Financial’s dividend payout ratio is currently 38.20%.
In related news, the director Nicos Katsoulis bought 2,000 shares of the company in a transaction that took place on Thursday, March 10. The shares were acquired at an average price of $21.40 per share, for a total transaction of $42,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, CAO Michele B. Estep sold 3,790 shares of OceanFirst Financial in a trade on Monday, March 7. The shares were sold at an average price of $22.17, for a total transaction of $84,024.30. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 36,883 shares of the company valued at $817,696. 4.50% of the shares are held by insiders of the company.
Several hedge funds have recently changed their positions in the company. California State Teachers Retirement System increased its holdings of OceanFirst Financial shares by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 82,433 shares of the savings and loan company valued at $1,830,000 after buying 591 additional shares in the last quarter. LPL Financial LLC increased its equity stake in OceanFirst Financial by 8.6% during the third quarter. LPL Financial LLC now owns 18,977 shares in the savings and loan company valued at $406,000 after buying an additional 1,496 shares last quarter. Credit Suisse AG increased its holdings of OceanFirst Financial shares by 4.2% during the 4th quarter. Credit Suisse AG now owns 50,617 shares in the savings and loan company valued at $1,124,000 after buying 2,033 more shares last quarter. Royal Bank of Canada increased its holdings of OceanFirst Financial shares by 7.0% during the third quarter. Royal Bank of Canada now owns 47,778 shares of the savings and loan company valued at $1,023,000 after buying 3,126 more shares last quarter. Finally, Stifel Financial Corp increased its stake in OceanFirst Financial shares by 12.6% during the 4th quarter. Stifel Financial Corp now owns 54,028 shares in the savings and loan company valued at $1,199,000 after buying an additional 6,032 shares last quarter. Hedge funds and other institutional investors own 68.46% of the company’s shares.
A number of equity research analysts have recently commented on the OCFC’s actions. Zacks Investment Research moved shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $25.00 price target for the stock in a Wednesday, March 16 research note. StockNews.com purported coverage of OceanFirst Financial stock in a Thursday, March 31 research note. They have set a “holding” rating on the stock. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat, OceanFirst Financial currently has a consensus buy rating and a consensus target price of $24.63.
About OceanFirst Financial (Get a rating)
OceanFirst Financial Corp. operates as a bank holding company for OceanFirst Bank NA which provides community banking services. It accepts money market accounts, savings accounts, interest bearing checking accounts, non-interest bearing demand deposits and term deposits for individuals, governments and businesses.
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