Equities research analysts forecast that OceanFirst Financial Corp. (NASDAQ:OCFC) will post sales of $77.54 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for OceanFirst Financial’s earnings. The lowest sales estimate is $76.90 million and the highest is $78.24 million. OceanFirst Financial posted sales of $70.33 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The company is expected to issue its next quarterly earnings results on Thursday, July 25th.
On average, analysts expect that OceanFirst Financial will report full-year sales of $309.37 million for the current year, with estimates ranging from $307.51 million to $312.46 million. For the next fiscal year, analysts anticipate that the business will report sales of $324.01 million, with estimates ranging from $319.47 million to $332.86 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for OceanFirst Financial.
OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, April 25th. The savings and loans company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $73.90 million during the quarter, compared to analyst estimates of $73.12 million. OceanFirst Financial had a return on equity of 9.47% and a net margin of 26.92%.
NASDAQ OCFC traded down $0.03 on Friday, reaching $24.49. The stock had a trading volume of 135,145 shares, compared to its average volume of 148,028. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.12 and a beta of 0.75. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. OceanFirst Financial has a 12-month low of $21.30 and a 12-month high of $30.90.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Friday, May 3rd. OceanFirst Financial’s dividend payout ratio is presently 34.34%.
In related news, EVP Joseph R. Iantosca sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.25, for a total value of $75,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in shares of OceanFirst Financial by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 59,458 shares of the savings and loans company’s stock worth $1,338,000 after buying an additional 475 shares during the period. Teton Advisors Inc. boosted its position in OceanFirst Financial by 2.4% during the 4th quarter. Teton Advisors Inc. now owns 25,150 shares of the savings and loans company’s stock valued at $566,000 after acquiring an additional 600 shares in the last quarter. Mercer Capital Advisers Inc. boosted its position in OceanFirst Financial by 1.6% during the 1st quarter. Mercer Capital Advisers Inc. now owns 43,625 shares of the savings and loans company’s stock valued at $1,050,000 after acquiring an additional 675 shares in the last quarter. BW Gestao de Investimentos Ltda. boosted its position in OceanFirst Financial by 2.4% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 29,029 shares of the savings and loans company’s stock valued at $653,000 after acquiring an additional 677 shares in the last quarter. Finally, LPL Financial LLC boosted its position in OceanFirst Financial by 4.7% during the 4th quarter. LPL Financial LLC now owns 15,581 shares of the savings and loans company’s stock valued at $351,000 after acquiring an additional 699 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors.
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.
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