OceanFirst Financial (NASDAQ:OCFC – Get Free Report) posted its quarterly earnings data on Thursday. 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), Yahoo Finance reports. OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.87%. The company had revenue of $170.41 million for the quarter, compared to analyst estimates of $94.93 million. During the same quarter last year, the company earned $0.46 EPS.
OceanFirst Financial Price Performance
Shares of NASDAQ OCFC opened at $17.41 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.18 and a beta of 1.03. OceanFirst Financial has a 12 month low of $12.01 and a 12 month high of $19.58. The firm’s 50 day simple moving average is $15.47 and its 200-day simple moving average is $15.71. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.00 and a quick ratio of 0.99.
OceanFirst Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a $0.20 dividend. The ex-dividend date is Monday, August 5th. This represents a $0.80 annualized dividend and a yield of 4.60%. OceanFirst Financial’s dividend payout ratio (DPR) is presently 46.78%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on OceanFirst Financial
Insider Transactions at OceanFirst Financial
In other news, EVP Brian Schaeffer sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.49, for a total transaction of $54,215.00. Following the sale, the executive vice president now owns 41,868 shares of the company’s stock, valued at approximately $648,535.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.00% of the company’s stock.
About OceanFirst Financial
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.
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