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OceanFirst Financial Corp. (OCFC) Analysis & Forecast for 2022

OceanFirst Financial Corp. (NASDAQ: OCFC) is -7.61% lower on its value in year-to-date trading and has touched a low of $18.24 and a high of $24.25 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OCFC stock was last observed hovering at around $20.27 in the last trading session, with the day’s gains setting it 0.24% off its average median price target of $26.50 for the next 12 months. It is also 33.84% off the consensus price target high of $31.00 offered by 6 analysts, but current levels are 14.54% higher than the price target low of $24.00 for the same period.

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Currently trading at $20.51, the stock is 6.05% and 6.16% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.22 million and changing 1.18% at the moment leaves the stock -2.07% off its SMA200. OCFC registered 5.45% gain for a year compared to 6-month loss of -11.06%.

The stock witnessed a 8.40% gain in the last 1 month and extending the period to 3 months gives it a 7.49%, and is 3.85% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.53% over the week and 2.09% over the month.

OceanFirst Financial Corp. (OCFC) has around 874 employees, a market worth around $1.22B and $348.20M in sales. Current P/E ratio is 12.29 and Fwd P/E is 7.34. Profit margin for the company is 28.50%. Distance from 52-week low is 12.45% and -15.42% from its 52-week high. The company has generated returns on investments over the last 12 months (16.30%).

OceanFirst Financial Corp. (OCFC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for OceanFirst Financial Corp. (OCFC) is a “Buy”. 6 analysts offering their recommendations for the stock have an average rating of 1.90, where 1 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

OceanFirst Financial Corp. is expected to release its quarterly report on 10/27/2022.The EPS is expected to grow by 74.50% this year.

OceanFirst Financial Corp. (OCFC) Top Institutional Holders

The shares outstanding are 58.74M, and float is at 57.69M with Short Float at 1.93%.

OceanFirst Financial Corp. (OCFC) Insider Activity

A total of 44 insider transactions have happened at OceanFirst Financial Corp. (OCFC) in the last six months, with sales accounting for 17 and purchases happening 27 times. The most recent transaction is an insider purchase by Barrett Patrick Sean,the company’sExecutive Vice President & CFO. SEC filings show that Barrett Patrick Sean bought 10,500 shares of the company’s common stock on Jun 24 at a price of $18.91 per share for a total of $0.2 million. Following the purchase, the insider now owns 20508.0 shares.

OceanFirst Financial Corp. disclosed in a document filed with the SEC on May 17 that Lebel Joseph III (President and COO) bought a total of 1,000 shares of the company’s common stock. The trade occurred on May 17 and was made at $25.13 per share for $25134.0. Following the transaction, the insider now directly holds 2000.0 shares of the OCFC stock.

Still, SEC filings show that on May 13, Katsoulis Nicos (Director) acquired 2,000 shares at an average price of $18.99 for $37980.0. The insider now directly holds 20,086 shares of OceanFirst Financial Corp. (OCFC).

OceanFirst Financial Corp. (OCFC): Who are the competitors?

The company’s main competitors (and peers) include Northfield Bancorp Inc. (Staten Island NY) (NFBK) that is trading -13.49% down over the past 12 months and Magyar Bancorp Inc. (MGYR) that is 8.77% higher over the same period. Provident Financial Services Inc. (PFS) is 10.95% up on the 1-year trading charts.

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