DA Davidson Predicts Lower Earnings for OceanFirst Financial

OceanFirst Financial Corp. (NASDAQ:OCFC) – Equities research analysts at DA Davidson cut their FY2025 EPS estimates for shares of OceanFirst Financial in a note issued to investors on Friday, March 28th. DA Davidson analyst M. Navas now forecasts that the savings and loans company will earn $1.55 per share for the year, down from their previous estimate of $1.60. 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 $1.60 per share. DA Davidson also issued estimates for OceanFirst Financial’s FY2026 earnings at $1.90 EPS.

Other research analysts also recently issued research reports about the stock. Hovde Group dropped their target price on shares of OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Stephens restated an “equal weight” rating and set a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, OceanFirst Financial currently has an average rating of “Hold” and an average target price of $20.83.

OceanFirst Financial Stock Performance

Shares of OCFC opened at $17.06 on Monday. OceanFirst Financial has a 52 week low of $14.03 and a 52 week high of $21.87. 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 $998.98 million, a P/E ratio of 10.34 and a beta of 1.03. The business’s 50 day moving average price is $17.76 and its 200-day moving average price is $18.45.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of OceanFirst Financial by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 1,241,191 shares of the savings and loans company’s stock worth $23,074,000 after purchasing an additional 157,711 shares during the last quarter. Barclays PLC grew its position in shares of 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. Geode Capital Management LLC increased its stake in shares of OceanFirst Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,421,373 shares of the savings and loans company’s stock valued at $26,428,000 after buying an additional 27,579 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in OceanFirst Financial by 28.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 29,519 shares of the savings and loans company’s stock worth $534,000 after acquiring an additional 6,496 shares during the period. Finally, Versant Capital Management Inc grew its holdings 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 worth $27,000 after acquiring an additional 1,337 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.20 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.80 annualized dividend and a yield of 4.69%. OceanFirst Financial’s dividend payout ratio is currently 48.48%.

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.