OceanFirst Financial Corp. (NASDAQ:OCFC) to Post Q2 2024 Earnings of $0.45 Per Share, DA Davidson Forecasts

OceanFirst Financial Corp. (NASDAQ:OCFC) – Research analysts at 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 expects 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 recently issued reports about the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 target price (down from $22.00) on shares of OceanFirst Financial in a research note on Monday. Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of OceanFirst Financial in a report on Friday, April 19th. Raymond James reduced their target price on OceanFirst Financial from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday. StockNews.com upgraded OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Monday. Finally, TheStreet upgraded OceanFirst Financial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.20.

OceanFirst Financial Stock Down 1.6 %

NASDAQ OCFC opened at $15.23 on Wednesday. The stock has a fifty day moving average of $15.32 and a 200-day moving average of $15.40. The stock has a market capitalization of $906.64 million, a P/E ratio of 8.91 and a beta of 1.00. OceanFirst Financial has a 52 week low of $12.01 and a 52 week high of $19.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.98 and a current ratio of 0.98.

Institutional Trading of OceanFirst Financial

A number of institutional investors have recently modified their holdings of the company. Boston Partners increased its position in shares of OceanFirst Financial by 11.1% in the third quarter. Boston Partners now owns 1,394,141 shares of the savings and loans company’s stock valued at $19,660,000 after acquiring an additional 139,646 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of OceanFirst Financial in the third quarter valued at about $1,015,000. Charles Schwab Investment Management Inc. increased its position in shares of OceanFirst Financial by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 695,344 shares of the savings and loans company’s stock valued at $10,062,000 after acquiring an additional 43,649 shares during the last quarter. American Century Companies Inc. increased its position in shares of OceanFirst Financial by 17.3% in the third quarter. American Century Companies Inc. now owns 517,771 shares of the savings and loans company’s stock valued at $7,492,000 after acquiring an additional 76,317 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of OceanFirst Financial by 143.3% in the third quarter. AQR Capital Management LLC now owns 380,529 shares of the savings and loans company’s stock valued at $5,506,000 after acquiring an additional 224,146 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

OceanFirst Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.25%. OceanFirst Financial’s dividend payout ratio (DPR) 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.