Analysts expect that OceanFirst Financial Corp. (NASDAQ:OCFC) will post $73.23 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for OceanFirst Financial’s earnings. The lowest sales estimate is $71.80 million and the highest is $74.90 million. OceanFirst Financial reported sales of $64.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The business is expected to announce its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that OceanFirst Financial will report full-year sales of $306.01 million for the current financial year, with estimates ranging from $301.80 million to $310.84 million. For the next financial year, analysts expect that the company will post sales of $320.60 million, with estimates ranging from $312.30 million to $329.08 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for OceanFirst Financial.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, January 24th. The savings and loans company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The business had revenue of $70.59 million during the quarter, compared to analyst estimates of $72.11 million. OceanFirst Financial had a return on equity of 9.26% and a net margin of 23.09%.

Several brokerages have recently issued reports on OCFC. BidaskClub lowered OceanFirst Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research lowered OceanFirst Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 4th. Boenning Scattergood began coverage on OceanFirst Financial in a research note on Friday, December 21st. They set an “outperform” rating and a $28.00 price target on the stock. Finally, ValuEngine raised OceanFirst Financial from a “sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.50.

OceanFirst Financial stock traded up $0.11 on Friday, reaching $24.99. The company’s stock had a trading volume of 47,216 shares, compared to its average volume of 182,083. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $1.20 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.12 and a beta of 0.76. OceanFirst Financial has a twelve month low of $21.30 and a twelve month high of $30.90.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Monday, February 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, February 1st. OceanFirst Financial’s dividend payout ratio (DPR) is presently 34.34%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of OceanFirst Financial by 6.2% during the fourth quarter. BlackRock Inc. now owns 3,463,135 shares of the savings and loans company’s stock valued at $77,955,000 after acquiring an additional 201,750 shares during the period. Dimensional Fund Advisors LP increased its holdings in OceanFirst Financial by 6.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,767,787 shares of the savings and loans company’s stock valued at $75,339,000 after purchasing an additional 155,482 shares during the last quarter. Vanguard Group Inc. increased its holdings in OceanFirst Financial by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,819,792 shares of the savings and loans company’s stock valued at $49,535,000 after purchasing an additional 42,882 shares during the last quarter. Vanguard Group Inc increased its holdings in OceanFirst Financial by 2.4% in the third quarter. Vanguard Group Inc now owns 1,819,792 shares of the savings and loans company’s stock valued at $49,535,000 after purchasing an additional 42,882 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in OceanFirst Financial by 25.3% in the third quarter. Brown Advisory Inc. now owns 1,262,633 shares of the savings and loans company’s stock valued at $34,369,000 after purchasing an additional 254,634 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

About OceanFirst Financial

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

See Also: The benefits and drawbacks of dollar cost averaging

Get a free copy of the Zacks research report on OceanFirst Financial (OCFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for OceanFirst Financial (NASDAQ:OCFC)

Receive News & Ratings for OceanFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OceanFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.