Q2 2017 EPS Estimates for OceanFirst Financial Corp. Decreased by FIG Partners (OCFC)
OceanFirst Financial Corp. (NASDAQ:OCFC) – Investment analysts at FIG Partners dropped their Q2 2017 earnings estimates for OceanFirst Financial Corp. in a report released on Friday. FIG Partners analyst D. Bishop now expects that the brokerage will post earnings per share of $0.40 for the quarter, down from their previous forecast of $0.41.
Separately, Zacks Investment Research cut OceanFirst Financial Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 23rd.
OceanFirst Financial Corp. (NASDAQ:OCFC) opened at 19.20 on Monday. OceanFirst Financial Corp. has a 12 month low of $15.98 and a 12 month high of $21.00. The company’s 50-day moving average is $19.43 and its 200 day moving average is $18.57. The firm has a market cap of $431.58 million, a P/E ratio of 20.10 and a beta of 0.65.
OceanFirst Financial Corp. (NASDAQ:OCFC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.10. OceanFirst Financial Corp. had a net margin of 15.10% and a return on equity of 8.97%.
In related news, Chairman John R. Garbarino sold 160,220 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $19.25, for a total value of $3,084,235.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John R. Garbarino sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $18.84, for a total value of $188,400.00. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. RMB Capital Management LLC bought a new position in shares of OceanFirst Financial Corp. during the first quarter worth approximately $3,957,000. JPMorgan Chase & Co. boosted its position in shares of OceanFirst Financial Corp. by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 175,770 shares of the company’s stock worth $3,108,000 after buying an additional 6,746 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of OceanFirst Financial Corp. by 19.8% in the first quarter. Geode Capital Management LLC now owns 87,016 shares of the company’s stock worth $1,538,000 after buying an additional 14,399 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of OceanFirst Financial Corp. by 8.7% in the first quarter. Wellington Management Group LLP now owns 1,467,595 shares of the company’s stock worth $25,947,000 after buying an additional 117,500 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in shares of OceanFirst Financial Corp. during the first quarter worth approximately $1,564,000. Institutional investors own 60.77% of the company’s stock.
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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