Analysts predict that OceanFirst Financial Corp. (NASDAQ:OCFC – Get Rating) will report earnings of $0.53 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for OceanFirst Financial’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.55. OceanFirst Financial posted earnings per share of $0.49 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that OceanFirst Financial will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.06 to $2.34. For the next financial year, analysts forecast that the business will report earnings of $2.68 per share, with EPS estimates ranging from $2.31 to $2.90. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover OceanFirst Financial.
OceanFirst Financial (NASDAQ:OCFC – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The savings and loans company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $93.08 million for the quarter, compared to analyst estimates of $93.15 million. OceanFirst Financial had a return on equity of 7.69% and a net margin of 26.57%. During the same quarter in the previous year, the company posted $0.44 earnings per share.
In other news, Director Nicos Katsoulis bought 2,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were bought at an average cost of $21.40 per share, for a total transaction of $42,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP lifted its position in shares of OceanFirst Financial by 18.2% in the first quarter. First Trust Advisors LP now owns 60,687 shares of the savings and loans company’s stock valued at $1,460,000 after acquiring an additional 9,365 shares in the last quarter. Morgan Stanley lifted its position in shares of OceanFirst Financial by 139.9% in the second quarter. Morgan Stanley now owns 213,213 shares of the savings and loans company’s stock valued at $4,442,000 after acquiring an additional 124,338 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of OceanFirst Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,056,118 shares of the savings and loans company’s stock valued at $22,611,000 after acquiring an additional 4,806 shares in the last quarter. Credit Suisse AG lifted its position in shares of OceanFirst Financial by 20.7% in the third quarter. Credit Suisse AG now owns 48,584 shares of the savings and loans company’s stock valued at $1,041,000 after acquiring an additional 8,326 shares in the last quarter. Finally, Mariner LLC purchased a new stake in shares of OceanFirst Financial in the third quarter valued at $2,403,000. Institutional investors own 69.53% of the company’s stock.
OCFC traded up $0.08 during trading on Tuesday, hitting $20.12. 291,389 shares of the stock were exchanged, compared to its average volume of 257,499. The firm has a market capitalization of $1.19 billion, a P/E ratio of 12.05 and a beta of 0.84. OceanFirst Financial has a 1-year low of $18.30 and a 1-year high of $24.25. The stock has a fifty day moving average price of $19.26 and a two-hundred day moving average price of $21.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19.
The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Monday, May 9th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.68 dividend on an annualized basis and a yield of 3.38%. OceanFirst Financial’s payout ratio is 40.72%.
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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