Q4 Earnings Forecast for OCFC Issued By DA Davidson

OceanFirst Financial Corp. (NASDAQ:OCFC) – Equities researchers at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for OceanFirst Financial in a report released on Tuesday, October 22nd. DA Davidson analyst M. Navas anticipates that the savings and loans company will earn $0.33 per share 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.

OCFC has been the topic of a number of other reports. Piper Sandler set a $17.00 price objective on shares of OceanFirst Financial and gave the company a “neutral” rating in a research note on Friday, October 18th. Hovde Group lifted their target price on OceanFirst Financial from $19.50 to $21.50 and gave the company an “outperform” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, OceanFirst Financial has an average rating of “Hold” and a consensus target price of $19.30.

OceanFirst Financial Stock Up 1.7 %

OCFC stock opened at $18.14 on Wednesday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 10.61 and a beta of 1.01. The company has a fifty day moving average price of $17.70 and a 200 day moving average price of $16.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.01 and a quick ratio of 1.01. OceanFirst Financial has a 12 month low of $12.01 and a 12 month high of $19.49.

Hedge Funds Weigh In On OceanFirst Financial

Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its position in shares of OceanFirst Financial by 455.5% in the first quarter. GSA Capital Partners LLP now owns 71,704 shares of the savings and loans company’s stock valued at $1,177,000 after buying an additional 58,795 shares in the last quarter. Boston Partners raised its position in shares of OceanFirst Financial by 3.2% in the 1st quarter. Boston Partners now owns 1,391,127 shares of the savings and loans company’s stock worth $22,505,000 after buying an additional 42,966 shares during the period. Russell Investments Group Ltd. grew its stake in OceanFirst Financial by 59,216.3% during the first quarter. Russell Investments Group Ltd. now owns 51,012 shares of the savings and loans company’s stock worth $837,000 after buying an additional 50,926 shares during the period. Vanguard Group Inc. grew its position in OceanFirst Financial by 3.1% in the first quarter. Vanguard Group Inc. now owns 3,475,107 shares of the savings and loans company’s stock valued at $57,027,000 after acquiring an additional 105,764 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of OceanFirst Financial by 32.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 272,243 shares of the savings and loans company’s stock valued at $4,326,000 after purchasing an additional 66,918 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

OceanFirst Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Monday, November 4th. OceanFirst Financial’s dividend payout ratio is presently 46.78%.

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.