Fri Sep 20 13:11:20 UTC 2024: ## OceanFirst Financial Stock Price Target Raised by Hovde Group

**[City, State] – September 20, 2024** – OceanFirst Financial (NASDAQ:OCFC) has received a boost in its price target from Hovde Group, who now predicts a potential upside of 13.70% from the stock’s previous close. In a research report released Friday, the firm raised its price target from $19.50 to $21.50 while maintaining its “outperform” rating for the savings and loans company.

Meanwhile, Keefe, Bruyette & Woods reiterated a “market perform” rating for OceanFirst Financial with a lowered price objective of $18.00, down from $19.00 in a research note released on May 31st.

Based on data from MarketBeat.com, OceanFirst Financial currently has an average rating of “Hold” and a consensus target price of $18.90, with four analysts rating the stock as a hold and two recommending a buy.

**Recent Earnings and Institutional Interest**

OceanFirst Financial reported earnings for the second quarter on July 18th, missing analyst estimates with earnings per share (EPS) of $0.39 compared to the predicted $0.42. The company reported revenue of $170.41 million, exceeding the estimated $94.93 million.

Several institutional investors have recently modified their holdings in OceanFirst Financial. Innealta Capital LLC, Acadian Asset Management LLC, Meeder Asset Management Inc., EMC Capital Management, and ProShare Advisors LLC all acquired new positions in the company during the first and second quarters. Institutional investors currently own 70.98% of the company’s stock.

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A., providing community banking services to a wide range of customers.

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