4 analysts have shared their evaluations of OceanFirst Financial (NASDAQ:OCFC) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 2 | 2 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 2 | 1 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have set 12-month price targets for OceanFirst Financial, revealing an average target of $19.25, a high estimate of $20.00, and a low estimate of $18.00. This current average has decreased by 8.33% from the previous average price target of $21.00.
Decoding Analyst Ratings: A Detailed Look
In examining recent analyst actions, we gain insights into how financial experts perceive OceanFirst Financial. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Timothy Switzer | Keefe, Bruyette & Woods | Lowers | Market Perform | $18.00 | $19.00 |
| Daniel Tamayo | Raymond James | Lowers | Outperform | $20.00 | $22.00 |
| Timothy Switzer | Keefe, Bruyette & Woods | Lowers | Outperform | $19.00 | $22.00 |
| Matt Breese | Stephens & Co. | Maintains | Equal-Weight | $20.00 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to OceanFirst Financial. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of OceanFirst Financial compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of OceanFirst Financial's stock. This examination reveals shifts in analysts' expectations over time.
To gain a panoramic view of OceanFirst Financial's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
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Get to Know OceanFirst Financial Better
OceanFirst Financial Corp is engaged in the banking sector of the United States. It conducts the business of attracting retail and business deposits and investing them in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate loans. The company's sole segment deals with the delivery of loan and deposit products to customers. The bank's revenues are derived principally from interest on its loans, and to a lesser extent, interest on its investment and mortgage-backed securities. The rest of its income is dependent on bank card services and wealth management services.
A Deep Dive into OceanFirst Financial's Financials
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, OceanFirst Financial faced challenges, resulting in a decline of approximately -2.14% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: OceanFirst Financial's net margin is impressive, surpassing industry averages. With a net margin of 28.38%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): OceanFirst Financial's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 1.66%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): OceanFirst Financial's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.21%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: OceanFirst Financial's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.65, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
What Are Analyst Ratings?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.