Some Investing Thoughts On OceanFirst Financial Corp. (NASDAQ: OCFC)

OceanFirst Financial Corp. (OCFC) concluded trading on Thursday at a closing price of $16.41, with 0.43 million shares of worth about $7.13 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 14.36% during that period and on March 28, 2024 the price saw a gain of about 1.93%. Currently the company’s common shares owned by public are about 59.45M shares, out of which, 56.91M shares are available for trading.

Stock saw a price change of 1.67% in past 5 days and over the past one month there was a price change of 10.06%. Year-to-date (YTD), OCFC shares are showing a performance of -5.47% which decreased to -13.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.01 but also hit the highest price of $19.58 during that period. The average intraday trading volume for OceanFirst Financial Corp. shares is 338.44K. The stock is currently trading 6.92% above its 20-day simple moving average (SMA20), while that difference is up 2.96% for SMA50 and it goes to 3.53% higher than SMA200.

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OceanFirst Financial Corp. (NASDAQ: OCFC) currently have 59.45M outstanding shares and institutions hold larger chunk of about 71.41% of that.

The stock has a current market capitalization of $967.37M and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 9.69, while it has posted earnings per share of $1.69 in the same period. Its PEG reads 0.97 while making debt-to-equity ratio of 0.69. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OCFC, volatility over the week remained 3.14% while standing at 3.36% over the month.

Analysts are in expectations that OceanFirst Financial Corp. (OCFC) stock would likely to be making an EPS of $0.41 in the current quarter, while forecast for next quarter EPS is $0.43 and it is $2.11 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.39 which is $0.43 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.55 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -1.28% while it is estimated to increase by 20.00% in next year. EPS is likely to grow at an annualized rate of 10.00% for next 5-years, compared to annual growth of 2.36% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on January 05, 2024 offering an Outperform rating for the stock and assigned a target price of $21 to it. Coverage by DA Davidson stated OceanFirst Financial Corp. (OCFC) stock as a Neutral in their note to investors on September 18, 2023, suggesting a price target of $17 for the stock. Stock get an Overweight rating from Piper Sandler on August 06, 2021.

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