OceanFirst Financial price target raised to $19 from $18 at DA Davidson

DA Davidson raised the firm’s price target on OceanFirst Financial to $19 from $18 and keeps a Neutral rating on the shares. The company’s Q4 results reflect strong OpEx control, improving funding trends, 0bps in net charge offs and positive loan growth, the analyst tells investors in a research note. The net interest margin for OceanFirst should also stabilize, and potentially expand, as the company is more confident in funding and capital, targeting improved 5%-6% loan growth, the firm added.