OceanFirst Financial Corp. (NASDAQ:OCFC) – Investment analysts at Piper Sandler decreased their Q1 2020 earnings per share estimates for OceanFirst Financial in a report issued on Monday, March 23rd. Piper Sandler analyst F. Schiraldi now forecasts that the savings and loans company will earn $0.46 per share for the quarter, down from their previous estimate of $0.48. Piper Sandler also issued estimates for OceanFirst Financial’s Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.42 EPS, Q4 2020 earnings at $0.46 EPS, FY2020 earnings at $1.77 EPS, Q1 2021 earnings at $0.41 EPS, Q2 2021 earnings at $0.43 EPS, Q3 2021 earnings at $0.47 EPS and Q4 2021 earnings at $0.45 EPS.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of OceanFirst Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 11th. ValuEngine raised shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. TheStreet downgraded shares of OceanFirst Financial from a “b-” rating to a “c+” rating in a research report on Thursday, March 5th. Finally, Zacks Investment Research raised shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.30.
NASDAQ:OCFC opened at $13.92 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. OceanFirst Financial has a 12 month low of $11.60 and a 12 month high of $26.09. The company has a market cap of $864.69 million, a PE ratio of 7.95 and a beta of 0.89. The company has a 50 day simple moving average of $19.81 and a two-hundred day simple moving average of $22.98.
OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Monday, January 27th. The savings and loans company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). OceanFirst Financial had a return on equity of 9.20% and a net margin of 25.24%. The firm had revenue of $74.59 million during the quarter, compared to analysts’ expectations of $75.18 million.
In other OceanFirst Financial news, Director Steven E. Brady sold 11,920 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $23.54, for a total value of $280,596.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nicos Katsoulis purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $16.83 per share, for a total transaction of $33,660.00. The disclosure for this purchase can be found here. Insiders sold a total of 40,730 shares of company stock valued at $956,612 in the last ninety days. 3.60% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in OCFC. First Trust Advisors LP lifted its stake in OceanFirst Financial by 18.2% in the 1st quarter. First Trust Advisors LP now owns 60,687 shares of the savings and loans company’s stock worth $1,460,000 after purchasing an additional 9,365 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in OceanFirst Financial in the 3rd quarter worth $351,000. State Street Corp lifted its stake in OceanFirst Financial by 1.5% in the 3rd quarter. State Street Corp now owns 1,031,640 shares of the savings and loans company’s stock worth $24,347,000 after purchasing an additional 15,406 shares in the last quarter. Equitable Trust Co. purchased a new stake in OceanFirst Financial in the 3rd quarter worth $220,000. Finally, California State Teachers Retirement System lifted its stake in OceanFirst Financial by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 78,761 shares of the savings and loans company’s stock worth $1,859,000 after purchasing an additional 941 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.
OceanFirst Financial Company Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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