FY2026 EPS Forecast for OceanFirst Financial Cut by Analyst

OceanFirst Financial Corp. (NASDAQ:OCFC - Free Report) - Analysts at DA Davidson cut their FY2026 EPS estimates for OceanFirst Financial in a research report issued on Tuesday, July 1st. DA Davidson analyst M. Navas now forecasts that the savings and loans company will earn $2.00 per share for the year, down from their previous forecast of $2.05. The consensus estimate for OceanFirst Financial's current full-year earnings is $1.60 per share.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its earnings results on Thursday, April 24th. The savings and loans company reported $0.35 earnings per share for the quarter, meeting analysts' consensus estimates of $0.35. The business had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.66 million. OceanFirst Financial had a net margin of 13.59% and a return on equity of 5.38%.

A number of other brokerages also recently weighed in on OCFC. Raymond James Financial lowered their target price on shares of OceanFirst Financial from $24.00 to $21.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of 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. 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.67.

OceanFirst Financial Price Performance

OCFC traded up $0.19 on Thursday, reaching $18.77. The company had a trading volume of 138,544 shares, compared to its average volume of 295,873. The business has a 50 day simple moving average of $17.11 and a 200 day simple moving average of $17.30. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 12.26 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.00. OceanFirst Financial has a 52-week low of $14.29 and a 52-week high of $21.87.

OceanFirst Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Monday, May 5th. OceanFirst Financial's dividend payout ratio is 52.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of OceanFirst Financial during the 1st quarter valued at $13,160,000. MetLife Investment Management LLC boosted its holdings in shares of OceanFirst Financial by 1,226.5% during the 1st quarter. MetLife Investment Management LLC now owns 464,258 shares of the savings and loans company's stock valued at $7,897,000 after buying an additional 429,259 shares in the last quarter. Foundry Partners LLC boosted its holdings in shares of 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 buying an additional 289,230 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of OceanFirst Financial by 34.3% during the 1st quarter. Royce & Associates LP now owns 1,026,099 shares of the savings and loans company's stock valued at $17,454,000 after buying an additional 262,259 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. boosted its holdings in shares of 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 buying an additional 178,761 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

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.