Wall Street brokerages predict that OceanFirst Financial Corp. (NASDAQ:OCFC) will announce earnings of $0.55 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for OceanFirst Financial’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.56. OceanFirst Financial posted earnings per share of $0.46 during the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The company is expected to report its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that OceanFirst Financial will report full-year earnings of $2.19 per share for the current year, with EPS estimates ranging from $2.15 to $2.22. For the next financial year, analysts anticipate that the firm will post earnings of $2.31 per share, with EPS estimates ranging from $2.25 to $2.38. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover OceanFirst Financial.
OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, April 25th. The savings and loans company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. OceanFirst Financial had a return on equity of 9.47% and a net margin of 26.92%. The firm had revenue of $73.90 million during the quarter, compared to analyst estimates of $73.12 million.
In related news, EVP Joseph R. Iantosca sold 3,000 shares of OceanFirst Financial stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.25, for a total value of $75,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in OceanFirst Financial in the 4th quarter worth about $25,000. PNC Financial Services Group Inc. bought a new position in OceanFirst Financial in the 1st quarter worth about $77,000. Amundi Pioneer Asset Management Inc. bought a new position in OceanFirst Financial in the 4th quarter worth about $108,000. Great West Life Assurance Co. Can boosted its stake in OceanFirst Financial by 57.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 6,195 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 2,263 shares during the period. Finally, SG Americas Securities LLC bought a new position in OceanFirst Financial in the 1st quarter worth about $191,000. 68.81% of the stock is owned by institutional investors.
Shares of OceanFirst Financial stock traded down $0.03 during trading hours on Friday, hitting $24.49. 135,145 shares of the company’s stock traded hands, compared to its average volume of 148,028. OceanFirst Financial has a 12-month low of $21.30 and a 12-month high of $30.90. The firm has a market cap of $1.26 billion, a PE ratio of 12.37, a P/E/G ratio of 1.12 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, May 3rd. OceanFirst Financial’s dividend payout ratio (DPR) is currently 34.34%.
About OceanFirst Financial
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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