OceanFirst Financial (OCFC) Scheduled to Post Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) will be issuing 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 listening to the company’s conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, January 18th. The savings and loans company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $99.69 million during the quarter, compared to analysts’ expectations of $97.26 million. OceanFirst Financial had a return on equity of 6.65% and a net margin of 16.21%. 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 Price Performance

Shares of OceanFirst Financial stock opened at $14.51 on Wednesday. The stock has a market cap of $863.78 million, a price-to-earnings ratio of 8.54 and a beta of 1.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $15.41 and a 200-day moving average price of $15.37. OceanFirst Financial has a one year low of $12.01 and a one year high of $19.58.

Analyst Upgrades and Downgrades

OCFC has been the subject of a number of recent research reports. StockNews.com cut OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. TheStreet upgraded OceanFirst Financial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Finally, Raymond James lifted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.50.

Hedge Funds Weigh In On OceanFirst Financial

Large investors have recently bought and sold shares of the business. Quarry LP raised its position in OceanFirst Financial by 162.1% during the 1st quarter. Quarry LP now owns 1,562 shares of the savings and loans company’s stock valued at $29,000 after purchasing an additional 966 shares in the last quarter. Parkside Financial Bank & Trust raised its position in OceanFirst Financial by 118.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,974 shares of the savings and loans company’s stock valued at $31,000 after purchasing an additional 1,071 shares in the last quarter. Tower Research Capital LLC TRC raised its position in OceanFirst Financial by 279.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,331 shares of the savings and loans company’s stock valued at $43,000 after purchasing an additional 1,717 shares in the last quarter. International Assets Investment Management LLC raised its position in OceanFirst Financial by 1,240.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock valued at $60,000 after purchasing an additional 3,213 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in OceanFirst Financial by 23.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,917 shares of the savings and loans company’s stock valued at $103,000 after purchasing an additional 919 shares in the last quarter. Hedge funds and other 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.