Q2 2024 Earnings Estimate for OceanFirst Financial Corp. (NASDAQ:OCFC) Issued By DA Davidson

OceanFirst Financial Corp. (NASDAQ:OCFC) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of OceanFirst Financial in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst M. Navas forecasts that the savings and loans company will post earnings per share of $0.45 for the quarter. The consensus estimate for OceanFirst Financial’s current full-year earnings is $1.76 per share.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $19.00 price objective (down from $22.00) on shares of OceanFirst Financial in a research note on Monday. Raymond James reduced their target price on OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Monday. TheStreet upgraded OceanFirst Financial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of OceanFirst Financial in a report on Friday, April 19th. Finally, StockNews.com upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Monday. Four research 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 presently has a consensus rating of “Hold” and an average price target of $18.20.

OceanFirst Financial Stock Performance

OCFC opened at $15.44 on Wednesday. The firm has a market cap of $919.14 million, a PE ratio of 9.03 and a beta of 1.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $15.33 and a 200-day simple moving average of $15.40. OceanFirst Financial has a fifty-two week low of $12.01 and a fifty-two week high of $19.58.

Institutional Trading of OceanFirst Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of OceanFirst Financial during the third quarter worth $34,000. International Assets Investment Management LLC raised its holdings in OceanFirst Financial by 1,240.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,472 shares of the savings and loans company’s stock valued at $60,000 after buying an additional 3,213 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in OceanFirst Financial by 19.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,579 shares of the savings and loans company’s stock valued at $139,000 after buying an additional 1,550 shares in the last quarter. Chapin Davis Inc. bought a new position in OceanFirst Financial during the fourth quarter valued at about $207,000. Finally, SG Americas Securities LLC bought a new position in OceanFirst Financial during the third quarter valued at about $176,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

OceanFirst Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.80 annualized dividend and a dividend yield of 5.18%. OceanFirst Financial’s dividend payout ratio is 46.78%.

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.