DA Davidson Has Bearish Estimate for OCFC FY2026 Earnings

OceanFirst Financial Corp. (NASDAQ:OCFC) – DA Davidson reduced their FY2026 earnings per share (EPS) estimates for OceanFirst Financial in a note issued to investors on Tuesday, July 1st. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings of $2.00 per share for the year, down from their prior forecast of $2.05. The consensus estimate for OceanFirst Financial’s current full-year earnings is $1.60 per share.

OCFC has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their price objective on OceanFirst Financial from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Raymond James Financial cut their price objective on OceanFirst Financial from $24.00 to $21.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

OceanFirst Financial Stock Up 1.0%

OceanFirst Financial stock opened at $18.77 on Thursday. OceanFirst Financial has a twelve month low of $14.29 and a twelve month high of $21.87. The stock’s fifty day simple moving average is $17.11 and its 200-day simple moving average is $17.30. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.10 billion, a P/E ratio of 12.26 and a beta of 0.99.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. OceanFirst Financial had a return on equity of 5.38% and a net margin of 13.59%. The business had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.66 million.

OceanFirst Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.26%. OceanFirst Financial’s payout ratio is currently 52.29%.

Hedge Funds Weigh In On OceanFirst Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of OceanFirst Financial by 1.8% during the first quarter. Vanguard Group Inc. now owns 3,516,177 shares of the savings and loans company’s stock worth $59,810,000 after purchasing an additional 61,515 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of OceanFirst Financial by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,228,902 shares of the savings and loans company’s stock worth $58,442,000 after purchasing an additional 53,476 shares in the last quarter. Invesco Ltd. grew its stake in shares of OceanFirst Financial by 3.4% during the first quarter. Invesco Ltd. now owns 1,731,785 shares of the savings and loans company’s stock worth $29,458,000 after purchasing an additional 56,526 shares in the last quarter. American Century Companies Inc. grew its stake in shares of OceanFirst Financial by 9.7% during the first quarter. American Century Companies Inc. now owns 1,326,378 shares of the savings and loans company’s stock worth $22,562,000 after purchasing an additional 117,578 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of OceanFirst Financial by 7.3% during the first quarter. Wellington Management Group LLP now owns 1,072,375 shares of the savings and loans company’s stock worth $18,241,000 after purchasing an additional 72,850 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.