Equities Analysts Issue Forecasts for OCFC Q1 Earnings

OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) - DA Davidson issued their Q1 2025 EPS estimates for shares of OceanFirst Financial in a research note issued on Friday, February 7th. DA Davidson analyst M. Navas expects that the savings and loans company will earn $0.35 per share for the quarter. DA Davidson has a "Neutral" rating and a $22.00 price objective on the stock. The consensus estimate for OceanFirst Financial's current full-year earnings is $1.61 per share. DA Davidson also issued estimates for OceanFirst Financial's FY2025 earnings at $1.60 EPS and FY2026 earnings at $2.00 EPS.

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

Several other equities research analysts have also recently issued reports on OCFC. Raymond James upgraded shares of OceanFirst Financial from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Hovde Group cut their price target on shares of OceanFirst Financial from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, January 27th. Piper Sandler set a $17.00 price objective on OceanFirst Financial and gave the company a "neutral" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $22.00 price target on shares of OceanFirst Financial in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.83.

OceanFirst Financial Trading Up 2.1 %

Shares of OCFC traded up $0.37 during midday trading on Monday, reaching $18.28. The company had a trading volume of 512,616 shares, compared to its average volume of 362,228. The firm has a 50 day simple moving average of $18.59 and a 200-day simple moving average of $18.33. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The stock has a market cap of $1.07 billion, a PE ratio of 11.08 and a beta of 1.05. OceanFirst Financial has a 1-year low of $14.03 and a 1-year high of $21.87.

Institutional Investors Weigh In On OceanFirst Financial

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its position in OceanFirst Financial by 587.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,082,855 shares of the savings and loans company's stock valued at $20,130,000 after acquiring an additional 925,283 shares in the last quarter. Royce & Associates LP boosted its stake in shares of OceanFirst Financial by 43.7% in the third quarter. Royce & Associates LP now owns 733,441 shares of the savings and loans company's stock valued at $13,635,000 after purchasing an additional 223,203 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of OceanFirst Financial by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company's stock valued at $23,074,000 after purchasing an additional 157,711 shares in the last quarter. Systematic Financial Management LP increased its stake in OceanFirst Financial by 10.8% during the 3rd quarter. Systematic Financial Management LP now owns 917,085 shares of the savings and loans company's stock worth $17,049,000 after buying an additional 89,099 shares during the period. Finally, Barclays PLC lifted its holdings in OceanFirst Financial by 13.0% during the 3rd quarter. Barclays PLC now owns 299,434 shares of the savings and loans company's stock worth $5,566,000 after buying an additional 34,458 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

OceanFirst Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.38%. OceanFirst Financial's payout ratio is presently 48.49%.

OceanFirst Financial Company Profile

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.