OceanFirst Financial (OCFC) Earns Daily News Impact Score of 0.08
News stories about OceanFirst Financial (NASDAQ:OCFC) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. OceanFirst Financial earned a daily sentiment score of 0.08 on Accern’s scale. Accern also assigned news headlines about the savings and loans company an impact score of 45.7184130384103 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:
- What You Must Know About OceanFirst Financial Corp’s (undefined:OCFC) ROE (finance.yahoo.com)
- Brokerages Expect OceanFirst Financial Corp. (OCFC) Will Announce Quarterly Sales of $50.52 Million (americanbankingnews.com)
- OceanFirst Financial Corp. breached its 50 day moving average in a Bearish Manner : OCFC-US : December 8, 2017 (finance.yahoo.com)
- $0.45 EPS Expected for OceanFirst Financial Corp. (OCFC) This Quarter (americanbankingnews.com)
- New Jersey banks earn regulatory approval for $487M merger (bizjournals.com)
A number of brokerages have weighed in on OCFC. Zacks Investment Research upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Thursday, November 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $31.00 target price on shares of OceanFirst Financial in a research note on Friday, October 27th. DA Davidson began coverage on OceanFirst Financial in a research note on Thursday, September 21st. They issued a “buy” rating and a $31.00 target price on the stock. Sandler O’Neill upgraded OceanFirst Financial from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, September 20th. Finally, ValuEngine upgraded OceanFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. OceanFirst Financial presently has an average rating of “Buy” and a consensus target price of $31.00.
OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. OceanFirst Financial had a return on equity of 8.87% and a net margin of 18.59%. The firm had revenue of $50.42 million during the quarter, compared to analysts’ expectations of $50.41 million. research analysts anticipate that OceanFirst Financial will post 1.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, November 3rd. OceanFirst Financial’s payout ratio is currently 50.00%.
In other news, Director Steven E. Brady sold 2,800 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.65, for a total value of $77,420.00. Following the completion of the transaction, the director now directly owns 72,562 shares in the company, valued at approximately $2,006,339.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.00% of the stock is currently owned by corporate insiders.
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OceanFirst Financial 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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