OceanFirst Financial Corp. (NASDAQ:OCFC) shares fell to a low of $16.14 before closing at $17.03. Intraday shares traded counted 0.21 million, which was 26.83% higher than its 30-day average trading volume of 285.07K. OCFC’s previous close was $15.97 while the outstanding shares total 59.88M. The firm has a beta of 0.99, a 12-month trailing P/E ratio of 10.66, and a growth ratio of 1.07. The stock’s Relative Strength Index (RSI) is 50.49, with weekly volatility at 5.17% and ATR at 1.02. The OCFC stock’s 52-week price range has touched low of $11.60 and a $26.09 high. The stock traded higher over the last trading session, gaining 6.64% on 06/29/20.
Investors have identified the Banks – Regional company OceanFirst Financial Corp. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $1.08 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
OceanFirst Financial Corp. (OCFC) Fundamentals that are to be considered.
OCFC were able to record 61.9 million as free cash flow during the third quarter of the year, this saw their quarterly net cash flow reduce by 173.99 million. In cash movements, the company had a total of 63.7 million as operating cash flow.
Potential earnings growth for OceanFirst Financial Corp. (OCFC)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the third quarter of the year, OceanFirst Financial Corp. recorded a total of 98.21 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 22.18% coming in sequential stages and their sales for the third quarter increasing by 21.52%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 18.56 million trying to sell their products during the last quarter, with the result yielding a gross income of 79.64 million. This allows shareholders to hold on to 59.88M with the revenue now reading 0.28 cents per share. This is a figure that is close to analyst’s prediction for their fourth quarter (0.35 cents a share).
Having a look at the company’s valuation, the company is expected to record 2.07 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on OCFC sounds very interesting.
Is the stock of OCFC attractive?
In related news, Executive VP/Corp. Secretary, Tsimbinos Steven James bought 2,600 shares of the company’s stock in a transaction that recorded on May 15. The purchase was performed at an average price of 17.91, for a total value of 46,568. As the purchase deal closes, the Director, Katsoulis Nicos now bought 2,000 shares of the company’s stock, valued at 33,660. Also, SVP/Principal Accounting Off., Ho Angela K sold 539 shares of the company’s stock in a deal that was recorded on Mar 03. The shares were cost at an average price of 20.96 per share, with a total market value of 11,295. Following this completion of disposal, the Chief Retail Officer, OFB, GIORDANO ANTHONY III now holds 1,247 shares of the company’s stock, valued at 25,906. In the last 6 months, insiders have changed their ownership in shares of company stock by 2.00%.
5 out of 8 analysts covering the stock have rated it a Buy, while 3 have maintained a Hold recommendation on OceanFirst Financial Corp.. 0 analysts has assigned a Sell rating on the OCFC stock. The 12-month mean consensus price target for the company’s shares has been set at $19.29.