OceanFirst Financial (OCFC) Projected to Post Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) is projected to issue its quarterly earnings data before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $0.35 per share and revenue of $95.66 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. OceanFirst Financial had a return on equity of 5.75% and a net margin of 14.45%. 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

Shares of OCFC stock opened at $15.54 on Wednesday. The firm has a 50 day moving average of $16.98 and a 200-day moving average of $18.21. The company has a market cap of $925.39 million, a price-to-earnings ratio of 9.42 and a beta of 0.94. 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 52 week low of $14.03 and a 52 week high of $21.87.

OceanFirst Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s payout ratio is 48.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens reissued an “equal weight” rating and set a $22.00 price objective on shares of OceanFirst Financial in a research report on Friday, January 24th. Raymond James cut their price target on OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Hovde Group decreased their price objective on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, OceanFirst Financial has a consensus rating of “Hold” and a consensus price target of $21.00.

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.