OceanFirst Financial (NASDAQ:OCFC) Upgraded at DA Davidson

DA Davidson upgraded shares of OceanFirst Financial (NASDAQ:OCFC) to a hold rating in a research report report published on Monday,Zacks.com reports. DA Davidson also issued estimates for OceanFirst Financial’s Q3 2025 earnings at $0.32 EPS, FY2025 earnings at $1.32 EPS and FY2026 earnings at $1.90 EPS.

Several other analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of OceanFirst Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised OceanFirst Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $20.00 to $22.00 in a research report on Friday, October 10th. Finally, Zacks Research cut OceanFirst Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, OceanFirst Financial currently has an average rating of “Hold” and an average price target of $21.80.

OceanFirst Financial Stock Up 1.6%

NASDAQ OCFC opened at $19.33 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market capitalization of $1.11 billion, a PE ratio of 13.71 and a beta of 1.02. OceanFirst Financial has a 1 year low of $14.29 and a 1 year high of $21.87. The business’s 50-day moving average is $18.02 and its 200 day moving average is $17.38.

OceanFirst Financial (NASDAQ:OCFC) last posted its earnings results on Wednesday, June 14th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $93.08 million for the quarter. OceanFirst Financial had a return on equity of 5.22% and a net margin of 12.89%. Sell-side analysts forecast that OceanFirst Financial will post 1.6 earnings per share for the current year.

OceanFirst Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, November 3rd. OceanFirst Financial’s dividend payout ratio (DPR) is presently 56.74%.

Hedge Funds Weigh In On OceanFirst Financial

Several large investors have recently made changes to their positions in OCFC. Envestnet Asset Management Inc. lifted its holdings in shares of OceanFirst Financial by 61.6% during the first quarter. Envestnet Asset Management Inc. now owns 31,441 shares of the savings and loans company’s stock valued at $535,000 after purchasing an additional 11,987 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of OceanFirst Financial by 7.9% during the first quarter. Cerity Partners LLC now owns 41,609 shares of the savings and loans company’s stock valued at $708,000 after purchasing an additional 3,033 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of OceanFirst Financial by 40.8% during the first quarter. New York State Common Retirement Fund now owns 21,744 shares of the savings and loans company’s stock valued at $370,000 after purchasing an additional 6,300 shares during the last quarter. Denali Advisors LLC purchased a new position in shares of OceanFirst Financial during the first quarter valued at approximately $403,000. Finally, Choreo LLC purchased a new position in OceanFirst Financial in the 1st quarter worth approximately $363,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.