Q4 Earnings Forecast for OCFC Issued By DA Davidson

OceanFirst Financial Corp. (NASDAQ:OCFC) – Investment analysts at DA Davidson issued their Q4 2024 earnings per share estimates for shares of OceanFirst Financial in a report issued on Tuesday, October 22nd. DA Davidson analyst M. Navas forecasts that the savings and loans company will post earnings per share of $0.33 for the quarter. 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 FY2025 earnings at $1.65 EPS.

A number of other brokerages also recently commented on OCFC. Piper Sandler set a $17.00 target price on shares of OceanFirst Financial and gave the stock a “neutral” rating in a report on Friday, October 18th. Hovde Group boosted their price objective on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OceanFirst Financial currently has a consensus rating of “Hold” and a consensus target price of $19.30.

OceanFirst Financial Trading Down 0.9 %

OCFC opened at $17.99 on Wednesday. OceanFirst Financial has a 12 month low of $12.01 and a 12 month high of $19.49. The stock has a fifty day moving average price of $17.78 and a 200-day moving average price of $16.41. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 10.28 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74.

OceanFirst Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 4th. This represents a $0.80 annualized dividend and a dividend yield of 4.45%. OceanFirst Financial’s dividend payout ratio (DPR) is currently 45.71%.

Institutional Trading of OceanFirst Financial

A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in OceanFirst Financial by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 956,320 shares of the savings and loans company’s stock valued at $15,196,000 after purchasing an additional 164,626 shares in the last quarter. AQR Capital Management LLC increased its position in shares of OceanFirst Financial by 24.4% in the 2nd quarter. AQR Capital Management LLC now owns 807,280 shares of the savings and loans company’s stock valued at $12,828,000 after acquiring an additional 158,590 shares during the period. Vanguard Group Inc. raised its stake in OceanFirst Financial by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company’s stock worth $57,027,000 after acquiring an additional 105,764 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in OceanFirst Financial by 32.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 272,243 shares of the savings and loans company’s stock worth $4,326,000 after acquiring an additional 66,918 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in OceanFirst Financial by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,046,061 shares of the savings and loans company’s stock valued at $18,160,000 after purchasing an additional 66,868 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.