OceanFirst Financial Corp. (OCFC) Set to Announce Earnings on Thursday
OceanFirst Financial Corp. (NASDAQ:OCFC) will post its quarterly earnings results after the market closes on Thursday, October 26th. Analysts expect OceanFirst Financial Corp. to post earnings of $0.45 per share for the quarter.
Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) opened at 27.70 on Thursday. The company has a 50 day moving average of $26.37 and a 200 day moving average of $26.79. OceanFirst Financial Corp. has a 52-week low of $19.02 and a 52-week high of $30.70. The stock has a market capitalization of $889.78 million, a price-to-earnings ratio of 23.94 and a beta of 0.64.
In related news, Director Steven E. Brady sold 3,825 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.89, for a total value of $95,204.25. Following the completion of the transaction, the director now owns 67,177 shares in the company, valued at approximately $1,672,035.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.00% of the company’s stock.
A number of research analysts recently issued reports on OCFC shares. Zacks Investment Research raised OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, September 5th. DA Davidson initiated coverage on OceanFirst Financial Corp. in a research report on Thursday, September 21st. They issued a “buy” rating and a $31.00 price target for the company. Sandler O’Neill upgraded OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, September 20th. Hovde Group initiated coverage on OceanFirst Financial Corp. in a research report on Monday, October 9th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, BidaskClub lowered OceanFirst Financial Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $30.80.
About OceanFirst Financial Corp.
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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