For its second fiscal quarter (ending June 30), OceanFirst Financial Corp. (NASDAQ: OCFC) has reported a -11% decline in E.P.S. from $0.45 a year ago to $0.40 in the current quarter. This performance was $-0.02 short of the consensus estimate of $0.42. E.P.S. were $1.66 for the latest four quarters through June 30 versus $2.44 for the same period a year ago — a decline of -32%.
Recent Price Action
OceanFirst Financial Corp. (NASDAQ: OCFC) stock declined by -2.2% on 7/18/24. The shares closed at $18.28. NORMAL trading volume accompanied the decline. The stock has performed in line with the market over the last nine months and has risen 13.3% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, OCFC is expected to continue to be a modest Value Builder.
OceanFirst Financial has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. OceanFirst Financial has a very high Appreciation Score of 87 but a slightly negative Power Rating of 35, producing the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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