OceanFirst Financial (OCFC) to Release Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) is set to issue its quarterly earnings data after the market closes on Thursday, April 18th. Analysts expect the company to announce earnings of $0.42 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, January 18th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. OceanFirst Financial had a net margin of 16.21% and a return on equity of 6.65%. The firm had revenue of $99.69 million during the quarter, compared to the consensus estimate of $97.26 million. 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 Down 0.5 %

Shares of OCFC stock opened at $14.69 on Tuesday. OceanFirst Financial has a 1 year low of $12.01 and a 1 year high of $19.58. The firm has a fifty day moving average price of $15.43 and a 200-day moving average price of $15.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $874.50 million, a price-to-earnings ratio of 8.64 and a beta of 1.00.

OceanFirst Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OCFC. TheStreet raised shares of OceanFirst Financial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. StockNews.com downgraded shares of OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Raymond James upped their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC raised its position 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 buying an additional 418 shares in the last quarter. BNP Paribas Arbitrage SNC raised its position in OceanFirst Financial by 1.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 23,502 shares of the savings and loans company’s stock worth $438,000 after purchasing an additional 443 shares during the period. Public Employees Retirement System of Ohio grew its stake in OceanFirst Financial by 1.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 40,494 shares of the savings and loans company’s stock worth $755,000 after acquiring an additional 531 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in OceanFirst Financial by 23.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock worth $103,000 after acquiring an additional 919 shares in the last quarter. Finally, Quarry LP grew 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 worth $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.