Analysts expect OceanFirst Financial Corp. (NASDAQ:OCFC) to report $50.52 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for OceanFirst Financial Corp.’s earnings. The lowest sales estimate is $49.94 million and the highest is $51.10 million. OceanFirst Financial Corp. posted sales of $42.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.3%. The business is expected to report its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that OceanFirst Financial Corp. will report full year sales of $50.52 million for the current year, with estimates ranging from $196.98 million to $198.10 million. For the next financial year, analysts anticipate that the firm will report sales of $281.22 million per share, with estimates ranging from $279.23 million to $283.20 million. Zacks’ sales calculations are an average based on a survey of research firms that cover OceanFirst Financial Corp..

OceanFirst Financial Corp. (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. OceanFirst Financial Corp. had a net margin of 18.59% and a return on equity of 8.87%. The firm had revenue of $50.42 million during the quarter, compared to the consensus estimate of $50.41 million.

OCFC has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine downgraded shares of OceanFirst Financial Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Hovde Group initiated coverage on shares of OceanFirst Financial Corp. in a research report on Monday, October 9th. They set an “outperform” rating and a $32.00 price objective for the company. Piper Jaffray Companies restated a “buy” rating and set a $31.00 price objective on shares of OceanFirst Financial Corp. in a research report on Friday, October 27th. Finally, Sandler O’Neill upgraded shares of OceanFirst Financial Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.00.

In other news, Director Steven E. Brady sold 3,825 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.89, for a total value of $95,204.25. Following the completion of the transaction, the director now owns 67,177 shares in the company, valued at approximately $1,672,035.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven E. Brady sold 2,800 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.65, for a total transaction of $77,420.00. Following the completion of the transaction, the director now owns 72,562 shares of the company’s stock, valued at approximately $2,006,339.30. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in OCFC. Janus Henderson Group PLC purchased a new position in shares of OceanFirst Financial Corp. in the 2nd quarter valued at about $6,326,000. Lord Abbett & CO. LLC increased its holdings in shares of OceanFirst Financial Corp. by 303.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 299,345 shares of the savings and loans company’s stock valued at $8,118,000 after purchasing an additional 225,211 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OceanFirst Financial Corp. by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,241,493 shares of the savings and loans company’s stock valued at $34,980,000 after purchasing an additional 184,647 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of OceanFirst Financial Corp. by 10.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,332,791 shares of the savings and loans company’s stock valued at $36,145,000 after purchasing an additional 131,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of OceanFirst Financial Corp. by 16.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 902,624 shares of the savings and loans company’s stock valued at $24,479,000 after purchasing an additional 127,888 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.

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OceanFirst Financial Corp. (NASDAQ:OCFC) traded down $0.17 during mid-day trading on Tuesday, reaching $26.86. 31,121 shares of the company traded hands, compared to its average volume of 133,456. OceanFirst Financial Corp. has a 1 year low of $23.59 and a 1 year high of $30.70. The stock has a market cap of $880.70, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 1.59 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were given a dividend of $0.15 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 2.23%. OceanFirst Financial Corp.’s payout ratio is currently 50.00%.

OceanFirst Financial Corp. Company Profile

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.

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

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