OceanFirst Financial Corp. (OCFC) to Post FY2017 Earnings of $1.70 Per Share, FIG Partners Forecasts

OceanFirst Financial Corp. (NASDAQ:OCFC) – FIG Partners increased their FY2017 earnings per share (EPS) estimates for OceanFirst Financial Corp. in a report released on Monday. FIG Partners analyst D. Bishop now anticipates that the savings and loans company will post earnings of $1.70 per share for the year, up from their previous forecast of $1.68. FIG Partners also issued estimates for OceanFirst Financial Corp.’s Q1 2018 earnings at $0.39 EPS.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday. Piper Jaffray Companies restated a “buy” rating and issued a $31.00 price target on shares of OceanFirst Financial Corp. in a report on Friday, October 27th. Hovde Group assumed coverage on shares of OceanFirst Financial Corp. in a report on Monday, October 9th. They issued an “outperform” rating and a $32.00 price target for the company. DA Davidson assumed coverage on shares of OceanFirst Financial Corp. in a report on Thursday, September 21st. They issued a “buy” rating and a $31.00 price target for the company. Finally, Sandler O’Neill upgraded shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.00.

ILLEGAL ACTIVITY WARNING: “OceanFirst Financial Corp. (OCFC) to Post FY2017 Earnings of $1.70 Per Share, FIG Partners Forecasts” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://sportsperspectives.com/2017/11/02/oceanfirst-financial-corp-ocfc-to-post-fy2017-earnings-of-1-70-per-share-fig-partners-forecasts.html. OceanFirst Financial Corp. (NASDAQ:OCFC) last released its earnings results on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. OceanFirst Financial Corp. had a return on equity of 8.93% and a net margin of 18.59%. The company had revenue of $50.42 million during the quarter, compared to analyst estimates of $50.41 million.

Several hedge funds and other institutional investors have recently modified their holdings of OCFC. UBS Asset Management Americas Inc. acquired a new position in shares of OceanFirst Financial Corp. during the first quarter valued at about $228,000. Parametric Portfolio Associates LLC grew its holdings in shares of OceanFirst Financial Corp. by 13.0% during the first quarter. Parametric Portfolio Associates LLC now owns 51,673 shares of the savings and loans company’s stock valued at $1,456,000 after buying an additional 5,932 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of OceanFirst Financial Corp. by 162.3% during the first quarter. JPMorgan Chase & Co. now owns 123,680 shares of the savings and loans company’s stock valued at $3,485,000 after buying an additional 76,533 shares during the last quarter. American International Group Inc. grew its holdings in shares of OceanFirst Financial Corp. by 30.1% during the first quarter. American International Group Inc. now owns 15,336 shares of the savings and loans company’s stock valued at $432,000 after buying an additional 3,548 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of OceanFirst Financial Corp. by 25.9% during the first quarter. Alliancebernstein L.P. now owns 31,100 shares of the savings and loans company’s stock valued at $876,000 after buying an additional 6,400 shares during the last quarter. Hedge funds and other institutional investors own 67.45% of the company’s stock.

In other OceanFirst Financial Corp. news, Director Steven E. Brady sold 3,825 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $24.89, for a total value of $95,204.25. Following the completion of the sale, the director now directly owns 67,177 shares in the company, valued at $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.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Monday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, November 3rd. OceanFirst Financial Corp.’s payout ratio is 50.00%.

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.

Earnings History and Estimates for OceanFirst Financial Corp. (NASDAQ:OCFC)

Receive News & Ratings for OceanFirst Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply