OceanFirst Financial Corp. (OCFC): Look at its Technical Analysis

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OceanFirst Financial Corp. (NASDAQ:OCFC) changes shares on Tuesday trading session, with a change of -1.99% or -$0.34 shares. The trading starts at $17.25 and closed at $17.12 throughout the day. The trading session low price was $16.74 and day high was $17.55 on Tuesday, June 23. After the session, the Financial sector daily volume shifted to 0.17 million while its average volume is 286.42K. In other hand, the OCFC market cap reached to $1.02B. While, its current target price is $16.78 according to WSJ.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -4.28% and up 10.03% for month. Its quarterly performance was 17.02% above, while its half year performance is down -34.35%. OCFC yearly performance stood at negative -29.73% and fall -34.30% for year-to-date. Current recommendation for OceanFirst Financial Corp. is 2.00.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. OCFC EPS (TTM) for 12-month is 1.60. EPS for this year is 18.70%, while for the next year its value is 1.73. Sales growth for the current quarter is 1.05 while its EPS Q/Q reached -35.20%. It has an EPS of 8.00% up for past five years and for the next five years will be up 10.00%.

Let’s take a look on the analyst recommendations on OCFC for the current month and previous month. For the current month, 5 of 8 analysts recommend stock as Buy while 0 as Sell, 0 as overweight, 0 as underweight and 3 as Hold. As compared with the previous month ratings, 8 analysts participate in stock recommendation. Out of 8, 0 rated it sell, 4 rated it as Buy and 4 as Hold Ratings. On the other hand, target price ranges from $16.00-$21.00. Average target price for OCFC was reached at $19.29.

The insider ownership moved to 2.00% and institutional holding shifted to 67.30%.

The company posted an EPS (TTM) of 1.60. According to the most recent quarter report on (Jun 2020), 8 analysts estimated an average EPS of 0.36, while 0.51 EPS posted a year ago period. Analyst Estimated EPS for OCFC published in the report was 0.22-0.46 during the same period. Comparing with last year, the average estimated EPS was 0.51 which is higher than 0.45 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for OCFC fall -19.15% for period of 200 days. SMA for 50 days was 4.84% which is showing green signal, while SMA-20 was -3.40%. The moving average value for OceanFirst Financial Corp. (OCFC) is 19.42 and 16.33 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in OCFC stock. On May 15, Tsimbinos Steven James, Executive VP/Corp. Secretary, bought 2,600 trading shares at the cost of $17.91, which valued at 46568.0. On Mar 10, Katsoulis Nicos, Director, bought 2,000 shares at the cost of $16.83, with total shares of 7,635. On Mar 03, Ho Angela K, SVP/Principal Accounting Off., sold 539 shares at the cost of 20.96. After this transaction, Ho Angela K total shares reached to 8,786 which valued at 11295.0.