OceanFirst Financial Corp. (NASDAQ:OCFC) is reporting third quarter financial results on Thursday 29th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, OCFC is expected to report 3Q20 income of $ 0.41 per share from revenue of $ 81.28 million.
For the full year, analysts anticipate top line of $ 325.96 million, while looking forward to income of $ 1.61 per share bottom line.
Previous Quarter Performance
OceanFirst Financial Corp. unveiled income for the second quarter of $ 0.36 per share, from the revenue of $ 78.67 million. The quarterly earnings shrunk 29.41 percent while revenues escalated 21.33 percent compared with the same quarter last year.
According to street consensus, OCFC was expected to report 2Q20 income of $ 0.34 per share from revenue of $ 79.11 million. The bottom line results beat street analysts by $ 0.02 or 5.88 percent, at the same time, top line results fell short of analysts by $ 0.44 million or 0.56 percent.
Stock Performance
Shares of OceanFirst Financial Corp. traded low $ -0.40 or -2.45 percent on Wednesday, reaching $ 15.73 with volume of 180.30 thousand shares. OceanFirst Financial Corp. has traded high as $ 16.14 and has cracked $ 15.62 on the downward trend
According to the previous trading day, closing price of $ 15.73, representing a 39.05 % increase from the 52 week low of $ 11.60 and a 37.02 % decrease over the 52 week high of $ 25.61.
The company has a market capital of $ 949.45 million and is part of the Financial Services sector and Savings & Cooperative Banks industry.
Recent Analyst recommendations
- On 28th September 2020, maintained by Piper Sandler at Neutral rating, with $ 17.00 target price.
Recent Stock Dividend Announcement
On July 23, 2020, the board of directors authorized quarterly dividend of $ 0.17 per share to holders of record as of the close of business on August 3, 2020, with payment date of August 14, 2020 and ex-dividend date on July 31, 2020.
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services.
