OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) - Equities research analysts at DA Davidson reduced their Q3 2024 EPS estimates for OceanFirst Financial in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.39. The consensus estimate for OceanFirst Financial's current full-year earnings is $1.58 per share. DA Davidson also issued estimates for OceanFirst Financial's FY2024 earnings at $1.56 EPS and FY2025 earnings at $1.75 EPS.
Separately, Hovde Group upped their price target on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.90.
Get Our Latest Analysis on OCFC
OceanFirst Financial Trading Up 0.5 %
OceanFirst Financial stock traded up $0.08 during trading hours on Friday, hitting $17.65. The company had a trading volume of 232,644 shares, compared to its average volume of 312,353. The firm has a market cap of $1.04 billion, a P/E ratio of 10.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.01. OceanFirst Financial has a 1 year low of $12.01 and a 1 year high of $18.98. The company has a 50-day moving average price of $17.30 and a two-hundred day moving average price of $16.15.
OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last posted its earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). OceanFirst Financial had a return on equity of 5.85% and a net margin of 14.78%. The business had revenue of $170.41 million during the quarter, compared to the consensus estimate of $94.93 million. During the same quarter last year, the firm earned $0.46 earnings per share.
OceanFirst Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, August 5th. This represents a $0.80 annualized dividend and a dividend yield of 4.53%. OceanFirst Financial's dividend payout ratio (DPR) is presently 46.78%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in OceanFirst Financial by 44.3% during the 3rd quarter. SG Americas Securities LLC now owns 40,086 shares of the savings and loans company's stock valued at $745,000 after purchasing an additional 12,309 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of OceanFirst Financial by 54.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 16,255 shares of the savings and loans company's stock valued at $258,000 after acquiring an additional 5,755 shares during the last quarter. Creative Planning boosted its holdings in shares of OceanFirst Financial by 254.6% in the 2nd quarter. Creative Planning now owns 40,214 shares of the savings and loans company's stock valued at $639,000 after acquiring an additional 28,874 shares during the last quarter. Algert Global LLC boosted its holdings in shares of OceanFirst Financial by 12.6% in the 2nd quarter. Algert Global LLC now owns 48,292 shares of the savings and loans company's stock valued at $767,000 after acquiring an additional 5,388 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in OceanFirst Financial by 24.4% during the second quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company's stock worth $12,828,000 after buying an additional 158,590 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
OceanFirst Financial Company Profile
(
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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.
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