The price of OceanFirst Financial Corp. (NASDAQ: OCFC) closed at $19.03 in the last session, down -1.91% from day before closing price of $19.40. In other words, the price has decreased by -$0.37 from its previous closing price. On the day, 735199 shares were traded. OCFC stock price reached its highest trading level at $19.37 during the session, while it also had its lowest trading level at $18.38.
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We take a closer look at OCFC’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 3.08 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 5.90. In the meantime, Its Debt-to-Equity ratio is 0.12 whereas as Long-Term Debt/Eq ratio is at 0.12.
Upgrades & Downgrades
Piper Sandler Upgraded its Neutral to Overweight on August 06, 2021, whereas the target price for the stock was revised from $23 to $24.
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 13 when Murphy Joseph M. Jr. bought 3,643 shares for $21.93 per share. The transaction valued at 79,891 led to the insider holds 3,643 shares of the business.
Tsimbinos Steven James bought 2,000 shares of OCFC for $44,240 on Mar 13. The Executive VP/Corp. Secretary now owns 3,000 shares after completing the transaction at $22.12 per share. On Mar 13, another insider, Lebel Joseph III, who serves as the President and COO of the company, bought 1,000 shares for $21.99 each. As a result, the insider paid 21,990 and bolstered with 3,000 shares of the company.
As of this moment, OceanFirst’s Price-to-Earnings (P/E) ratio for their current fiscal year is 7.85, and their Forward P/E ratio for the next fiscal year is 6.66. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.79. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.71 while its Price-to-Book (P/B) ratio in mrq is 0.70.
Stock Price History:
Over the past 52 weeks, OCFC has reached a high of $24.93, while it has fallen to a 52-week low of $17.72. The 50-Day Moving Average of the stock is 22.92, while the 200-Day Moving Average is calculated to be 21.23.
According to the various share statistics, OCFC traded on average about 243.98K shares per day over the past 3-months and 488.25k shares per day over the past 10 days. A total of 58.59M shares are outstanding, with a floating share count of 57.44M. Insiders hold about 0.10% of the company’s shares, while institutions hold 72.40% stake in the company. Shares short for OCFC as of Jan 12, 2023 were 760.78k with a Short Ratio of 0.74M, compared to 767.49k on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.29% and a Short% of Float of 1.33%.
Dividends & Splits
The forward annual dividend rate for OCFC is 0.80, which was 0.68 in the trailing 12 months. Against a Trailing Annual Dividend Yield of 3.51%, it implies a Forward Annual Dividend Yield of 3.24%. The stock’s 5-year Average Dividend Yield is 3.14. The current Payout Ratio is 30.50% for OCFC, which recently paid a dividend on Feb 16, 2023 with an ex-dividend date of Feb 02, 2023. Stock splits for the company last occurred on May 19, 2002 when the company split stock in a 3:2 ratio.
The company has 7 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.67 for the current quarter, with a high estimate of $0.72 and a low estimate of $0.58, while EPS last year was $0.49. The consensus estimate for the next quarter is $0.68, with high estimates of $0.73 and low estimates of $0.63.
Analysts are recommending an EPS of between $2.85 and $2.56 for the fiscal current year, implying an average EPS of $2.74. EPS for the following year is $2.86, with 7 analysts recommending between $3 and $2.68.
According to 6 analysts, the current quarter’s revenue is expected to be $107.16M. It ranges from a high estimate of $109.7M to a low estimate of $100.4M. As of the current estimate, OceanFirst Financial Corp.’s year-ago sales were $84.23M, an estimated increase of 27.20% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $109.21M, an increase of 20.30% less than the figure of $27.20% in the same quarter last year. There is a high estimate of $111.44M for the next quarter, whereas the lowest estimate is $104M.
A total of 6 analysts have provided revenue estimates for OCFC’s current fiscal year. The highest revenue estimate was $448.91M, while the lowest revenue estimate was $420.2M, resulting in an average revenue estimate of $438.89M. In the same quarter a year ago, actual revenue was $377.48M, up 16.30% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $455.36M in the next fiscal year. The high estimate is $473.15M and the low estimate is $438.3M. The average revenue growth estimate for next year is up 3.80% from the average revenue estimate for this year.