OceanFirst Financial (OCFC) to Release Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) will likely be issuing its quarterly earnings data after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.36 per share and revenue of $94,945.50 billion for the quarter.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company 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 Stock Performance

NASDAQ OCFC opened at $18.78 on Thursday. The company has a market capitalization of $1.10 billion, a price-to-earnings 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 twelve month low of $14.03 and a twelve month high of $21.87. The stock has a fifty day simple moving average of $19.35 and a 200 day simple moving average of $18.13.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OCFC shares. Hovde Group increased their price target on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research note on Friday, September 20th. Raymond James upgraded shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Piper Sandler set a $17.00 price objective on shares of OceanFirst Financial and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $22.00 price target on shares of OceanFirst Financial in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, OceanFirst Financial currently has an average rating of “Hold” and a consensus target price of $20.42.

Insider Buying and Selling at OceanFirst Financial

In other news, Director Joseph M. Jr. Murphy sold 1,500 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 177,417 shares in the company, valued at $3,553,662.51. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.