OceanFirst Financial (OCFC) to Release Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) will release its earnings data after the market closes on Thursday, April 18th. Analysts expect OceanFirst Financial to post earnings of $0.42 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, January 18th. The savings and loans company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $99.69 million during the quarter, compared to analyst estimates of $97.26 million. OceanFirst Financial had a return on equity of 6.65% and a net margin of 16.21%. 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 Price Performance

Shares of OCFC stock opened at $14.69 on Tuesday. The stock has a 50-day moving average price of $15.43 and a 200 day moving average price of $15.37. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market cap of $874.50 million, a price-to-earnings ratio of 8.64 and a beta of 1.00. OceanFirst Financial has a 12 month low of $12.01 and a 12 month high of $19.58.

OceanFirst Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were given a $0.20 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 5.45%. OceanFirst Financial’s payout ratio is 47.06%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OCFC shares. TheStreet upgraded OceanFirst Financial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. StockNews.com lowered OceanFirst Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Finally, Raymond James boosted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.50.

Hedge Funds Weigh In On OceanFirst Financial

Several institutional investors have recently modified their holdings of the business. Cerity Partners LLC lifted its holdings in shares of OceanFirst Financial by 0.7% during the 4th quarter. Cerity Partners LLC now owns 59,404 shares of the savings and loans company’s stock valued at $1,262,000 after purchasing an additional 418 shares in the last quarter. BNP Paribas Arbitrage SNC lifted its holdings in shares of OceanFirst Financial by 1.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 23,502 shares of the savings and loans company’s stock valued at $438,000 after purchasing an additional 443 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of OceanFirst Financial by 1.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 40,494 shares of the savings and loans company’s stock valued at $755,000 after purchasing an additional 531 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of OceanFirst Financial by 23.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock valued at $103,000 after purchasing an additional 919 shares in the last quarter. Finally, Quarry LP lifted its stake in OceanFirst Financial by 162.1% in the 1st quarter. Quarry LP now owns 1,562 shares of the savings and loans company’s stock valued at $29,000 after acquiring an additional 966 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Company Profile

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.