OceanFirst Financial Corp. (OCFC) Earning Somewhat Favorable Media Coverage, Accern Reports
Media headlines about OceanFirst Financial Corp. (NASDAQ:OCFC) have been trending somewhat positive on Saturday, Accern Sentiment Analysis reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. OceanFirst Financial Corp. earned a daily sentiment score of 0.16 on Accern’s scale. Accern also gave media headlines about the savings and loans company an impact score of 46.660423417753 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
OCFC has been the subject of a number of research reports. Zacks Investment Research upgraded OceanFirst Financial Corp. from a “strong sell” rating to a “hold” rating in a report on Thursday, August 3rd. BidaskClub downgraded OceanFirst Financial Corp. from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Sandler O’Neill upgraded OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, September 20th. DA Davidson initiated coverage on OceanFirst Financial Corp. in a report on Thursday, September 21st. They issued a “buy” rating and a $31.00 price objective for the company. Finally, Hovde Group initiated coverage on OceanFirst Financial Corp. in a report on Monday, October 9th. They issued an “outperform” rating and a $32.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. OceanFirst Financial Corp. currently has an average rating of “Buy” and a consensus price target of $31.00.
OceanFirst Financial Corp. (NASDAQ:OCFC) traded up $0.15 on Friday, reaching $26.46. The company’s stock had a trading volume of 96,886 shares, compared to its average volume of 127,286. OceanFirst Financial Corp. has a twelve month low of $22.62 and a twelve month high of $30.70. The company has a market capitalization of $862.13, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94.
OceanFirst Financial Corp. (NASDAQ:OCFC) last released its earnings results on Thursday, October 26th. The savings and loans company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. OceanFirst Financial Corp. had a return on equity of 8.87% and a net margin of 18.59%. The firm had revenue of $50.42 million for the quarter, compared to analysts’ expectations of $50.41 million. sell-side analysts predict that OceanFirst Financial Corp. will post 1.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were paid a $0.15 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. OceanFirst Financial Corp.’s dividend payout ratio is currently 50.00%.
In other news, Director Steven E. Brady sold 2,800 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total value of $77,420.00. Following the sale, the director now directly owns 72,562 shares of the company’s stock, valued at $2,006,339.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director now directly owns 67,177 shares in the company, valued at $1,672,035.53. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
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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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