OceanFirst Financial (OCFC) Set to Announce Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) is scheduled to be announcing its earnings results after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $0.39 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.85%. The company had revenue of $170.41 million during the quarter, compared to analyst estimates of $94.93 million. During the same quarter last year, the business earned $0.46 EPS. 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 Up 1.9 %

Shares of NASDAQ OCFC opened at $18.78 on Wednesday. The company’s 50-day simple moving average is $17.40 and its 200-day simple moving average is $16.28. OceanFirst Financial has a 52-week low of $12.01 and a 52-week high of $19.29. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 10.98 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.74.

Analysts Set New Price Targets

Separately, Hovde Group boosted their price target on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.90.

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.