OceanFirst Financial (OCFC) to Release Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) is anticipated to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect OceanFirst Financial to post earnings of $0.36 per share and revenue of $94,945.50 billion for the quarter. Parties interested in listening to the company's conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. OceanFirst Financial had a return on equity of 6.08% and a net margin of 15.28%. The business had revenue of $96.90 million during the quarter, compared to the consensus estimate of $92.79 million. 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 NASDAQ:OCFC traded down $0.13 on Thursday, hitting $18.65. The company had a trading volume of 168,996 shares, compared to its average volume of 316,700. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 10.66 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. OceanFirst Financial has a 1-year low of $14.03 and a 1-year high of $21.87. The stock has a 50 day moving average price of $19.35 and a 200 day moving average price of $18.13.

Insider Buying and Selling at OceanFirst Financial

In other OceanFirst Financial news, Director Joseph M. Jr. Murphy sold 1,500 shares of OceanFirst Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.03, for a total value of $30,045.00. Following the transaction, the director now owns 177,417 shares in the company, valued at $3,553,662.51. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.00% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler set a $17.00 price target on OceanFirst Financial and gave the stock a "neutral" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Raymond James raised OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, December 19th. DA Davidson reissued a "neutral" rating and set a $22.00 target price on shares of OceanFirst Financial in a report on Wednesday, December 4th. Finally, Hovde Group lifted their target price on OceanFirst Financial from $19.50 to $21.50 and gave the stock an "outperform" rating in a report on Friday, September 20th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.42.

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.