DA Davidson Has Negative Forecast for OCFC FY2025 Earnings

OceanFirst Financial Corp. (NASDAQ:OCFC) – Equities researchers at DA Davidson dropped their FY2025 earnings per share (EPS) estimates for shares of OceanFirst Financial in a research report issued to clients and investors on Friday, March 28th. DA Davidson analyst M. Navas now expects that the savings and loans company will earn $1.55 per share for the year, down from their prior forecast 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.

OCFC has been the subject of several other reports. Raymond James upgraded shares of OceanFirst Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens restated an “equal weight” rating and issued a $22.00 target price on shares of OceanFirst Financial in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on OceanFirst Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group lowered their price objective on OceanFirst Financial from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, OceanFirst Financial presently has an average rating of “Hold” and an average target price of $20.83.

OceanFirst Financial Trading Down 0.1 %

Shares of OCFC opened at $17.00 on Monday. OceanFirst Financial has a 1-year low of $14.03 and a 1-year high of $21.87. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average price is $17.68 and its 200-day moving average price is $18.45. The firm has a market capitalization of $995.47 million, a price-to-earnings ratio of 10.30 and a beta of 1.03.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OCFC. Wellington Management Group LLP increased its holdings in shares of OceanFirst Financial by 587.2% during the third 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. Foundry Partners LLC grew its position in OceanFirst Financial by 1,985.9% during the 4th quarter. Foundry Partners LLC now owns 303,794 shares of the savings and loans company’s stock valued at $5,499,000 after purchasing an additional 289,230 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its stake in OceanFirst Financial by 34.4% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 697,788 shares of the savings and loans company’s stock valued at $12,630,000 after purchasing an additional 178,761 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 worth $23,074,000 after buying an additional 157,711 shares during the last quarter. Finally, Basswood Capital Management L.L.C. bought a new position in shares of OceanFirst Financial in the fourth quarter worth approximately $2,695,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Announces Dividend

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