Q1 2018 Earnings Estimate for OceanFirst Financial Corp. (OCFC) Issued By FIG Partners
OceanFirst Financial Corp. (NASDAQ:OCFC) – Research analysts at FIG Partners issued their Q1 2018 earnings estimates for shares of OceanFirst Financial Corp. in a research report issued on Monday. FIG Partners analyst D. Bishop anticipates that the brokerage will post earnings of $0.43 per share for the quarter. FIG Partners also issued estimates for OceanFirst Financial Corp.’s Q2 2018 earnings at $0.45 EPS and Q3 2018 earnings at $0.46 EPS.
Separately, Zacks Investment Research upgraded shares of OceanFirst Financial Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd.
Shares of OceanFirst Financial Corp. (NASDAQ:OCFC) traded up 0.76% on Tuesday, hitting $23.77. 66,066 shares of the stock were exchanged. The company has a market cap of $604.57 million, a P/E ratio of 22.21 and a beta of 0.51. OceanFirst Financial Corp. has a one year low of $15.98 and a one year high of $23.92. The firm’s 50-day moving average is $20.46 and its 200-day moving average is $19.18.
The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a $0.15 dividend. This is a boost from OceanFirst Financial Corp.’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 3rd. This represents a $0.60 annualized dividend and a yield of 2.54%. OceanFirst Financial Corp.’s dividend payout ratio is 56.08%.
In other news, Chairman John R. Garbarino sold 160,220 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.25, for a total value of $3,084,235.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Joseph R. Iantosca sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $20.90, for a total transaction of $56,430.00. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Highlander Capital Management LLC raised its stake in shares of OceanFirst Financial Corp. by 80.2% in the second quarter. Highlander Capital Management LLC now owns 9,893 shares of the company’s stock worth $180,000 after buying an additional 4,403 shares in the last quarter. Quantum Capital Management LLC NJ bought a new stake in shares of OceanFirst Financial Corp. during the third quarter worth $201,000. BlackRock Advisors LLC raised its stake in shares of OceanFirst Financial Corp. by 55.9% in the second quarter. BlackRock Advisors LLC now owns 10,547 shares of the company’s stock worth $192,000 after buying an additional 3,780 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in shares of OceanFirst Financial Corp. during the second quarter worth $203,000. Finally, American International Group Inc. raised its stake in shares of OceanFirst Financial Corp. by 51.5% in the second quarter. American International Group Inc. now owns 11,801 shares of the company’s stock worth $214,000 after buying an additional 4,013 shares in the last quarter. 61.30% of the stock is owned by institutional investors.
OceanFirst Financial Corp. Company Profile
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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