Revenue Update on OceanFirst Financial Corp.(NASDAQ:OCFC)

OceanFirst Financial Corp.(NASDAQ:OCFC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $30.01M. Analysts estimated a revenue of $27.87M. Earnings per share were $0.38. Analysts had estimated an EPS of $0.21.

OceanFirst Financial Corp. (OCFC) shares turned negative on Thursdays trading session with the shares closing down -0.2 points or -1.07% at a volume of 52,849. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.68. The peak price level was also seen at $18.68 while the days lowest was $18.46. Finally the shares closed at $18.52. The 52-week high of the shares is $21 while the 52-week low is $15.98. According to the latest information available, the market cap of the company is $475 M.

Several Insider Transactions has been reported to the SEC. On Mar 18, 2016, Jack M. Farris (director) sold 150 shares at $17.20 per share price.

OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a savings and loan holding company. The Bank’s principal business is attracting retail and business deposits in the communities surrounding its branch offices and investing those deposits primarily in loans consisting of single-family owner-occupied residential mortgage loans and commercial real estate and other commercial loans. The Bank also invests in other types of loans including residential construction and consumer loans. In addition the Bank invests in mortgage-backed securities (MBS) securities issued by the United States Government and agencies thereof corporate securities and other investments permitted by applicable law and regulations. The Bank receives income from fees and service charges on loan and deposit products wealth management services Bankcard services and the sale of alternative investment products such as mutual funds annuities and life insurance.

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