OceanFirst Financial Corp. (NASDAQ:OCFC) – Investment analysts at FIG Partners reduced their Q2 2017 EPS estimates for shares of OceanFirst Financial Corp. in a research report issued to clients and investors on Friday. FIG Partners analyst D. Bishop now anticipates that the firm will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.41.
OceanFirst Financial Corp. (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.10. OceanFirst Financial Corp. had a net margin of 15.10% and a return on equity of 8.97%.
Separately, Zacks Investment Research cut shares of OceanFirst Financial Corp. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 23rd.
Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) opened at 19.26 on Monday. The company has a 50 day moving average of $19.43 and a 200-day moving average of $18.54. The company has a market cap of $432.93 million, a PE ratio of 20.17 and a beta of 0.65. OceanFirst Financial Corp. has a 52-week low of $15.98 and a 52-week high of $21.00.
Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC bought a new stake in OceanFirst Financial Corp. during the second quarter worth $528,000. BW Gestao de Investimentos Ltda. bought a new stake in OceanFirst Financial Corp. during the second quarter worth $203,000. Schwab Charles Investment Management Inc. boosted its stake in OceanFirst Financial Corp. by 43.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 60,992 shares of the company’s stock worth $1,109,000 after buying an additional 18,386 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in OceanFirst Financial Corp. by 79.4% in the second quarter. Wedge Capital Management L L P NC now owns 426,995 shares of the company’s stock worth $7,758,000 after buying an additional 188,916 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in OceanFirst Financial Corp. by 41.5% in the second quarter. Stifel Financial Corp now owns 37,979 shares of the company’s stock worth $690,000 after buying an additional 11,133 shares during the last quarter. 60.77% of the stock is currently owned by hedge funds and other institutional investors.
In other OceanFirst Financial Corp. news, Chairman John R. Garbarino sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $18.84, for a total transaction of $188,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John R. Garbarino sold 160,220 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $19.25, for a total transaction of $3,084,235.00. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
OceanFirst Financial Corp. Company Profile
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate and other commercial loans.
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