Equities research analysts expect OceanFirst Financial Corp. (NASDAQ:OCFC) to report $0.45 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for OceanFirst Financial’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.45. OceanFirst Financial posted earnings of $0.38 per share during the same quarter last year, which would indicate a positive year over year growth rate of 18.4%. The firm is scheduled to issue its next earnings results on Thursday, January 25th.
On average, analysts expect that OceanFirst Financial will report full year earnings of $1.43 per share for the current year. For the next financial year, analysts anticipate that the business will report earnings of $1.80 per share, with EPS estimates ranging from $1.76 to $1.84. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for OceanFirst Financial.
OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. OceanFirst Financial had a net margin of 18.59% and a return on equity of 8.87%. The business had revenue of $50.42 million during the quarter, compared to the consensus estimate of $50.41 million.
Shares of OceanFirst Financial (OCFC) traded down $0.28 on Thursday, reaching $28.00. 160,500 shares of the company’s stock traded hands, compared to its average volume of 135,436. OceanFirst Financial has a 1-year low of $24.02 and a 1-year high of $30.70. The firm has a market capitalization of $912.31, a P/E ratio of 17.35, a P/E/G ratio of 1.66 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.
The business also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.14%. OceanFirst Financial’s dividend payout ratio (DPR) is presently 50.00%.
In other news, Director Steven E. Brady sold 2,800 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the completion of the transaction, the director now directly owns 72,562 shares in the company, valued at $2,006,339.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.00% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Sei Investments Co. increased its holdings in OceanFirst Financial by 80.5% in the second quarter. Sei Investments Co. now owns 3,776 shares of the savings and loans company’s stock valued at $102,000 after purchasing an additional 1,684 shares during the period. BNP Paribas Arbitrage SA increased its holdings in OceanFirst Financial by 2,366.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,946 shares of the savings and loans company’s stock valued at $107,000 after purchasing an additional 3,786 shares during the period. SG Americas Securities LLC acquired a new stake in OceanFirst Financial in the third quarter valued at $165,000. Legal & General Group Plc increased its holdings in OceanFirst Financial by 6.8% in the first quarter. Legal & General Group Plc now owns 6,531 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 418 shares during the period. Finally, Trexquant Investment LP acquired a new stake in OceanFirst Financial in the third quarter valued at $201,000. Institutional investors own 70.93% of the company’s stock.
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About OceanFirst Financial
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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