OceanFirst Financial (OCFC) to Release Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) is projected to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect OceanFirst Financial to post earnings of $0.36 per share and revenue of $94,945.50 billion for the quarter.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $96.90 million for the quarter, compared to analyst estimates of $92.79 million. OceanFirst Financial had a net margin of 15.28% and a return on equity of 6.08%. 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 Trading Up 1.7 %

Shares of OCFC stock opened at $18.78 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of 10.73 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. OceanFirst Financial has a 12-month low of $14.03 and a 12-month high of $21.87. The firm has a 50 day moving average price of $19.35 and a two-hundred day moving average price of $18.13.

Analyst Ratings Changes

OCFC has been the topic of several recent research reports. Raymond James upgraded OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group boosted their price objective on shares of OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a report on Friday, September 20th. Piper Sandler set a $17.00 target price on shares of OceanFirst Financial and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, DA Davidson reiterated a “neutral” rating and issued a $22.00 price target on shares of OceanFirst Financial in a research note on Wednesday, December 4th. 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. Based on data from MarketBeat, OceanFirst Financial currently has a consensus rating of “Hold” and a consensus price target of $20.42.

Insider Buying and Selling at OceanFirst Financial

In other OceanFirst Financial news, Director Joseph M. Jr. Murphy sold 1,500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.03, for a total transaction of $30,045.00. Following the completion of the transaction, the director now owns 177,417 shares of the company’s stock, valued at approximately $3,553,662.51. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.00% 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.