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At OceanFirst Financial Corp. (NASDAQ:OCFC), Share Price Got a Bit Ahead of the Fundamentals

OceanFirst Financial Corp. (NASDAQ:OCFC) shares fell to a low of $21.85 before closing at $22.27. Intraday shares traded counted 0.32 million, which was -2.46% lower than its 30-day average trading volume of 313.21K. OCFC’s previous close was $22.21 while the outstanding shares total 59.84M. The firm has a beta of 0.97, a 12-month trailing P/E ratio of 17.52, and a growth ratio of 1.75. The stock’s Relative Strength Index (RSI) is 43.39, with weekly volatility at 2.33% and ATR at 0.65. The OCFC stock’s 52-week price range has touched low of $13.14 and a $25.76 high. The stock traded higher over the last trading session, gaining 0.27% on 05/20/21.

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 $1.32 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 31.54 million as free cash flow during the 07/29/2021 quarter of the year, this saw their quarterly net cash flow reduce by -128.91 million. In cash movements, the company had a total of 36.87 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 07/29/2021 quarter of the year, OceanFirst Financial Corp. recorded a total of 84.87 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -15.71% coming in sequential stages and their sales for the 07/29/2021 quarter reducing by -9.06%.

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 11.27 million trying to sell their products during the last quarter, with the result yielding a gross income of 73.6 million. This allows shareholders to hold on to 59.84M with the recently reported earning now reading 0.53 cents per share. This is a figure that compared to analyst’s prediction for their 07/29/2021 (0.44 cents a share).

Having a look at the company’s valuation, the company is expected to record 1.85 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, SVP/Principal Accounting Off., Ho Angela K sold 695 shares of the company’s stock in a transaction that recorded on Mar 03. The sale was performed at an average price of 23.11, for a total value of 16,061. As the sale deal closes, the Chief Retail Officer, OFB, GIORDANO ANTHONY III now sold 1,451 shares of the company’s stock, valued at 33,533. Also, Executive Vice President & CRO, Vallacchi Grace sold 1,065 shares of the company’s stock in a deal that was recorded on Mar 03. The shares were price at an average price of 23.11 per share, with a total market value of 24,612. Following this completion of acquisition, the EVP & CAO, OceanFirst Bank, ESTEP MICHELE B now holds 1,291 shares of the company’s stock, valued at 29,835. In the last 6 months, insiders have changed their ownership in shares of company stock by 2.10%.

6 out of 8 analysts covering the stock have rated it a Buy, while 2 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 $26.63.

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