OceanFirst Financial Corp. (NASDAQ: OCFC) has reported earnings for its fourth fiscal quarter (ending December 31) of $0.46 versus $0.89 for the same period a year ago — a decline of -48%. However, this performance was $0.03 better than the consensus estimate of $0.43. For the latest four quarters through December 31, E.P.S. were $1.70 versus $2.43 for the same period a year ago — a decline of -30%.
Recent Price Action
On 1/18/24, OceanFirst Financial Corp. (NASDAQ: OCFC) stock rose slightly by 0.2%, closing at $16.56. However, below average trading volume at 76% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has declined -3.7% during the last week.
Current PriceTarget Research Rating
OCFC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.
OceanFirst Financial has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. OceanFirst Financial has a very high Appreciation Score of 87 but a neutral Power Rating of 48, and the Positive Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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