DA Davidson Analysts Decrease Earnings Estimates for OCFC

OceanFirst Financial Corp. (NASDAQ:OCFC) – Equities researchers at DA Davidson dropped their FY2025 earnings estimates for OceanFirst Financial in a note issued to investors on Friday, March 28th. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings of $1.55 per share for the year, down from their previous forecast 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) last posted its earnings results on Thursday, January 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping 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%.

Other equities research analysts have also recently issued reports about the company. Hovde Group decreased their price target on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, January 27th. Raymond James raised shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens reissued an “equal weight” rating and issued a $22.00 price target on shares of OceanFirst Financial in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. 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 company’s stock. Based on data from MarketBeat.com, OceanFirst Financial has a consensus rating of “Hold” and a consensus price target of $20.83.

OceanFirst Financial Stock Performance

NASDAQ:OCFC opened at $17.00 on Monday. OceanFirst Financial has a 52-week low of $14.03 and a 52-week high of $21.87. The business’s fifty day moving average is $17.68 and its 200 day moving average is $18.45. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a market cap of $995.47 million, a price-to-earnings ratio of 10.30 and a beta of 1.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in OceanFirst Financial by 1,036.4% during the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 1,337 shares during the last quarter. Sterling Capital Management LLC lifted its position in OceanFirst Financial by 807.9% in the 4th 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 last quarter. Point72 DIFC Ltd purchased a new stake in OceanFirst Financial in the third quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in OceanFirst Financial by 82.3% in the third 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 purchased a new position in shares of OceanFirst Financial during the fourth quarter worth approximately $57,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

OceanFirst Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Monday, February 3rd. OceanFirst Financial’s dividend payout ratio is currently 48.48%.

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.