DA Davidson Has Negative Outlook for OCFC FY2025 Earnings

OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) - DA Davidson decreased their FY2025 earnings per share estimates for OceanFirst Financial in a report released on Friday, March 28th. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $1.55 for the year, down from their prior estimate of $1.60. DA Davidson currently has a "Neutral" rating and a $22.00 target price on the stock. The consensus estimate for OceanFirst Financial's current full-year earnings is $1.60 per share. DA Davidson also issued estimates for OceanFirst Financial's FY2026 earnings at $1.90 EPS.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. OceanFirst Financial had a net margin of 14.45% and a return on equity of 5.75%.

Several other research firms have also recently commented on OCFC. Hovde Group reduced their target price on OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $22.00 price objective on shares of OceanFirst Financial in a research note on Friday, January 24th. Raymond James dropped their target price on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating for the company in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price target on OceanFirst Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.00.

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OceanFirst Financial Stock Up 0.5 %

OCFC traded up $0.08 on Monday, reaching $17.08. The company's stock had a trading volume of 75,214 shares, compared to its average volume of 288,298. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 1.00. OceanFirst Financial has a 1 year low of $14.03 and a 1 year high of $21.87. The business's 50 day moving average is $17.68 and its 200 day moving average is $18.45. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 10.35 and a beta of 1.03.

OceanFirst Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Monday, February 3rd. OceanFirst Financial's payout ratio is 48.48%.

Hedge Funds Weigh In On OceanFirst Financial

Several institutional investors have recently modified their holdings of OCFC. Versant Capital Management Inc boosted its stake in OceanFirst Financial by 1,036.4% during the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company's stock valued at $27,000 after purchasing an additional 1,337 shares during the period. Sterling Capital Management LLC boosted its position in shares of OceanFirst Financial by 807.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,843 shares of the savings and loans company's stock worth $33,000 after buying an additional 1,640 shares during the period. Point72 DIFC Ltd acquired a new position in shares of OceanFirst Financial during the third quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in OceanFirst Financial by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,055 shares of the savings and loans company's stock worth $57,000 after buying an additional 1,379 shares in the last quarter. Finally, Quarry LP acquired a new stake in OceanFirst Financial in the 4th quarter valued at approximately $57,000. Institutional investors own 70.98% of the company's stock.

About OceanFirst Financial

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.