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About OceanFirst Financial (NASDAQ:OCFC)
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits. It also provides commercial real estate, multi-family mortgage, and land loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; consumer loans, such as home equity loans and lines of credit, overdraft line of credit, loans on savings accounts, and other consumer loans; and commercial and industrial loans, and lines of credit. In addition, the company invests in mortgage-backed securities, securities issued by the U.S. Government and agencies, corporate securities, and other investments. Further, it offers bankcard and wealth management services; and sells alternative investment products and life insurance products. The company operates through an administrative/branch office located in Toms River, New Jersey; and 45 additional branch offices and 3 deposit production facilities in central and southern New Jersey, as well as operates a wealth management office in Ocean County, and commercial loan production offices in the Philadelphia area and Atlantic, Cape May, and Mercer Counties in New Jersey. OceanFirst Financial Corp. was founded in 1902 and is based in Toms River, New Jersey.
Industry, Sector and Symbol
Industry Federal savings institutions
Sub-IndustryThrifts & Mortgage Finance
SectorFinance
SymbolNASDAQ:OCFC
CUSIP67523410
Phone732-240-4500
Debt
Debt-to-Equity Ratio0.45
Current Ratio0.93
Quick Ratio0.93
Price-To-Earnings
Trailing P/E Ratio16.79
Forward P/E Ratio14.20
P/E Growth1.42
Sales & Book Value
Annual Sales$215.90 million
Price / Sales6.37
Cash Flow$1.8771 per share
Price / Cash15.21
Book Value$18.47 per share
Price / Book1.55
Profitability
EPS (Most Recent Fiscal Year)$1.70
Net Income$42.47 million
Net Margins15.23%
Return on Equity9.04%
Return on Assets1.07%
Miscellaneous
EmployeesN/A
Outstanding Shares48,140,000
OceanFirst Financial (NASDAQ:OCFC) Frequently Asked Questions
What is OceanFirst Financial's stock symbol?
OceanFirst Financial trades on the NASDAQ under the ticker symbol "OCFC."
How often does OceanFirst Financial pay dividends? What is the dividend yield for OceanFirst Financial?
OceanFirst Financial announced a quarterly dividend on Friday, April 27th. Shareholders of record on Monday, May 7th will be given a dividend of $0.15 per share on Friday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, May 4th. View OceanFirst Financial's Dividend History.
How will OceanFirst Financial's stock buyback program work?
OceanFirst Financial declared that its Board of Directors has initiated a stock repurchase plan on Sunday, June 4th 2017, which allows the company to repurchase 1,600,000 outstanding shares, according to EventVestor. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
How were OceanFirst Financial's earnings last quarter?
OceanFirst Financial Corp. (NASDAQ:OCFC) issued its quarterly earnings data on Thursday, April, 26th. The savings and loans company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.38 by $0.07. The savings and loans company earned $64.62 million during the quarter, compared to analyst estimates of $58.24 million. OceanFirst Financial had a net margin of 15.23% and a return on equity of 9.04%. View OceanFirst Financial's Earnings History.
When is OceanFirst Financial's next earnings date?
What price target have analysts set for OCFC?
5 equities research analysts have issued 12-month price objectives for OceanFirst Financial's stock. Their forecasts range from $29.00 to $37.00. On average, they anticipate OceanFirst Financial's stock price to reach $32.20 in the next twelve months. View Analyst Ratings for OceanFirst Financial.
Are investors shorting OceanFirst Financial?
OceanFirst Financial saw a decrease in short interest in April. As of April 13th, there was short interest totalling 987,819 shares, a decrease of 34.8% from the March 30th total of 1,515,095 shares. Based on an average daily volume of 243,414 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.4% of the company's shares are short sold.
Who are some of OceanFirst Financial's key competitors?
Some companies that are related to OceanFirst Financial include Umpqua (UMPQ), BankUnited (BKU), TFS Financial (TFSL), BofI (BOFI), ViewPoint Financial Group (LTXB), Flagstar Bank (FBC), Provident Financial Services (PFS), Capitol Federal Financial (CFFN), Kearny Financial (KRNY), Brookline Bancorp (BRKL), Meta Financial Group (CASH), BBX Capital Corp Class B (BBXTB), Northfield Bancorp (NFBK), Dime Community Bancshares (DCOM) and Sterling Bancorp (SBT).
Who are OceanFirst Financial's key executives?
OceanFirst Financial's management team includes the folowing people:
- Mr. Christopher D. Maher, Chairman, Pres & CEO (Age 51)
- Mr. Michael J. Fitzpatrick, Exec. VP & CFO (Age 63)
- Mr. Steven J. Tsimbinos, Exec. VP, Gen. Counsel & Corp. Sec. (Age 48)
- Mr. Steven E. Brady, Director (Age 65)
- Mr. Joseph R. Iantosca, Exec. VP & Chief Admin. Officer of OceanFirst Bank (Age 58)
Has OceanFirst Financial been receiving favorable news coverage?
News coverage about OCFC stock has trended somewhat positive this week, according to Accern. The research firm identifies negative and positive media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. OceanFirst Financial earned a news impact score of 0.08 on Accern's scale. They also assigned media coverage about the savings and loans company an impact score of 46.23 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the near future.
Who are OceanFirst Financial's major shareholders?
OceanFirst Financial's stock is owned by many different of institutional and retail investors. Top institutional investors include BlackRock Inc. (5.71%), Dimensional Fund Advisors LP (4.65%), Mendon Capital Advisors Corp (2.26%), Victory Capital Management Inc. (2.14%), OppenheimerFunds Inc. (1.69%) and Northern Trust Corp (1.58%). Company insiders that own OceanFirst Financial stock include Angelo Catania, Christopher Maher, Donald E Mclaughlin, John R Garbarino, Joseph J Burke, Joseph Lebel III, Joseph R Iantosca, Michael D Devlin and Steven E Brady. View Institutional Ownership Trends for OceanFirst Financial.
Which major investors are selling OceanFirst Financial stock?
OCFC stock was sold by a variety of institutional investors in the last quarter, including Keeley Teton Advisors LLC, Wedge Capital Management L L P NC, Loomis Sayles & Co. L P, Mariner LLC, Alpine Woods Capital Investors LLC, Thomson Horstmann & Bryant Inc., OppenheimerFunds Inc. and JPMorgan Chase & Co.. Company insiders that have sold OceanFirst Financial company stock in the last year include Angelo Catania, Donald E Mclaughlin, John R Garbarino, Joseph J Burke, Joseph Lebel III, Joseph R Iantosca, Michael D Devlin and Steven E Brady. View Insider Buying and Selling for OceanFirst Financial.
Which major investors are buying OceanFirst Financial stock?
OCFC stock was acquired by a variety of institutional investors in the last quarter, including Victory Capital Management Inc., Dimensional Fund Advisors LP, BlackRock Inc., RMB Capital Management LLC, Mendon Capital Advisors Corp, Maltese Capital Management LLC, EJF Capital LLC and M&T Bank Corp. View Insider Buying and Selling for OceanFirst Financial.
How do I buy shares of OceanFirst Financial?
Shares of OCFC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is OceanFirst Financial's stock price today?
One share of OCFC stock can currently be purchased for approximately $28.55.
How big of a company is OceanFirst Financial?
OceanFirst Financial has a market capitalization of $1.37 billion and generates $215.90 million in revenue each year. The savings and loans company earns $42.47 million in net income (profit) each year or $1.70 on an earnings per share basis.
How can I contact OceanFirst Financial?
OceanFirst Financial's mailing address is 975 HOOPER AVE, TOMS RIVER NJ, 08723. The savings and loans company can be reached via phone at 732-240-4500 or via email at [email protected]
MarketBeat Community Rating for OceanFirst Financial (OCFC)
MarketBeat's community ratings are surveys of what our community members think about OceanFirst Financial and other stocks. Vote "Outperform" if you believe OCFC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe OCFC will underperform the S&P 500 over the long term. You may vote once every thirty days.
OceanFirst Financial (NASDAQ:OCFC) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
5 Wall Street analysts have issued ratings and price targets for OceanFirst Financial in the last 12 months. Their average twelve-month price target is $32.20, suggesting that the stock has a possible upside of 12.78%. The high price target for OCFC is $37.00 and the low price target for OCFC is $29.00. There are currently 5 buy ratings for the stock, resulting in a consensus rating of "Buy."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Buy | Buy | Buy | Buy |
| Consensus Rating Score: | 3.00 | 3.00 | 3.00 | 3.00 |
| Ratings Breakdown: | 0 Sell Rating(s)
0 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
0 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
0 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
0 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $32.20 | $32.20 | $32.20 | $31.00 |
| Price Target Upside: | 12.78% upside | 24.42% upside | 24.42% upside | 10.28% upside |
OceanFirst Financial (NASDAQ:OCFC) Consensus Price Target History
OceanFirst Financial (NASDAQ:OCFC) Analyst Ratings History
Show:
(Data available from 5/21/2016 forward)
OceanFirst Financial (NASDAQ:OCFC) Dividend Information
OceanFirst Financial pays an annual dividend of $0.60 per share, with a dividend yield of 2.10%. OCFC's most recent quarterly dividend payment was Friday, May 18. OceanFirst Financial pays out 35.29% of its earnings out as a dividend.
| Most Recent Dividend: | 5/18/2018 |
| Annual Dividend: | $0.60 |
| Dividend Yield: | 2.10% |
| Payout Ratio(s): | 35.29% (Trailing 12 Months of Earnings)
29.85% (Based on This Year's Estimates)
26.32% (Based on Next Year's Estimates)
31.96% (Based on Cash Flow)
|
OceanFirst Financial (NASDAQ:OCFC) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 4/27/2018 | quarterly | $0.15 | 2.18% | 5/4/2018 | 5/7/2018 | 5/18/2018 |
| 1/26/2018 | quarterly | $0.15 | 2.23% | 2/2/2018 | 2/5/2018 | 2/16/2018 |
| 10/27/2017 | quarterly | $0.15 | 2.06% | 11/3/2017 | 11/6/2017 | 11/17/2017 |
| 7/27/2017 | quarterly | $0.15 | 2.26% | 8/3/2017 | 8/7/2017 | 8/18/2017 |
| 4/27/2017 | quarterly | $0.15 | 2.17% | 5/4/2017 | 5/8/2017 | 5/19/2017 |
| 1/26/2017 | quarterly | $0.15 | 2.02% | 2/2/2017 | 2/6/2017 | 2/17/2017 |
| 10/27/2016 | quarterly | $0.15 | 2.99% | 11/3/2016 | 11/7/2016 | 11/18/2016 |
| 7/28/2016 | quarterly | $0.13 | 2.76% | 8/4/2016 | 8/8/2016 | 8/19/2016 |
| 4/26/2016 | quarterly | $0.13 | 2.8% | 5/5/2016 | 5/9/2016 | 5/20/2016 |
| 1/21/2016 | quarterly | $0.13 | 2.92% | 1/28/2016 | 2/1/2016 | 2/12/2016 |
| 10/22/2015 | quarterly | $0.13 | 2.74% | 10/29/2015 | 11/2/2015 | 11/13/2015 |
| 7/23/2015 | | $0.13 | | 7/30/2015 | 8/3/2015 | 8/14/2015 |
| 4/23/2015 | quarterly | $0.13 | 3% | 4/30/2015 | 5/4/2015 | 5/15/2015 |
| 1/22/2015 | quarterly | $0.13 | 3.14% | 1/29/2015 | 2/2/2015 | 2/13/2015 |
| 10/23/2014 | quarterly | $0.13 | 3.3% | 10/30/2014 | 11/3/2014 | 11/14/2014 |
| 7/24/2014 | quarterly | $0.12 | 3.01% | 7/31/2014 | 8/4/2014 | 8/15/2014 |
| 4/24/2014 | quarterly | $0.12 | 2.88% | 5/1/2014 | 5/5/2014 | 5/16/2014 |
| 1/24/2014 | quarterly | $0.12 | 2.65% | 1/30/2014 | 2/3/2014 | 2/14/2014 |
| 1/23/2014 | | $0.12 | | 1/30/2014 | 2/3/2014 | 2/14/2014 |
| 10/17/2013 | quarterly | $0.12 | 2.67% | 10/24/2013 | 10/28/2013 | 11/8/2013 |
| 7/19/2013 | quarterly | $0.12 | 2.8% | 7/25/2013 | 7/29/2013 | 8/9/2013 |
| 4/18/2013 | quarterly | $0.12 | 3.47% | 4/25/2013 | 4/29/2013 | 5/10/2013 |
| 1/25/2013 | quarterly | $0.12 | 3.63% | 1/31/2013 | 2/4/2013 | 2/15/2013 |
(Data available from 1/1/2013 forward)
OceanFirst Financial (NASDAQ OCFC) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 3.80%
Institutional Ownership Percentage: 71.30%
OceanFirst Financial (NASDAQ OCFC) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 5/4/2018 | Michael D Devlin | Director | Sell | 1,453 | $27.00 | $39,231.00 | |  |
| 5/2/2018 | Michael D Devlin | Director | Sell | 20,547 | $27.00 | $554,769.00 | | |
| 5/1/2018 | Christopher Maher | Chairman | Buy | 2,000 | $26.50 | $53,000.00 | | |
| 2/15/2018 | Angelo Catania | Director | Sell | 1,505 | $26.47 | $39,837.35 | | |
| 2/5/2018 | Joseph R Iantosca | CAO | Sell | 5,000 | $26.40 | $132,000.00 | | |
| 2/5/2018 | Steven E Brady | Director | Sell | 20,000 | $26.02 | $520,400.00 | | |
| 1/8/2018 | Joseph J Burke | Director | Sell | 1,490 | $26.73 | $39,827.70 | | |
| 10/31/2017 | Steven E Brady | Director | Sell | 2,800 | $27.65 | $77,420.00 | 72,562 | |
| 8/28/2017 | Steven E Brady | Director | Sell | 3,825 | $24.89 | $95,204.25 | 67,177 | |
| 5/31/2017 | Donald E Mclaughlin | Director | Sell | 3,000 | $26.74 | $80,220.00 | | |
| 5/23/2017 | John R Garbarino | Director | Sell | 15,000 | $26.31 | $394,650.00 | | |
| 5/23/2017 | Joseph Lebel III | EVP | Sell | 10,125 | $26.39 | $267,198.75 | | |
| 5/22/2017 | Joseph Lebel III | EVP | Sell | 20,050 | $26.54 | $532,127.00 | | |
| 5/9/2017 | Joseph R Iantosca | CAO | Sell | 2,000 | $27.96 | $55,920.00 | | |
| 5/3/2017 | Steven E Brady | Director | Sell | 8,000 | $28.18 | $225,440.00 | | |
| 3/6/2017 | Steven E Brady | Director | Sell | 15,850 | $28.63 | $453,785.50 | 70,317 | |
| 3/3/2017 | Steven E Brady | Director | Sell | 10,000 | $28.97 | $289,700.00 | 70,317 | |
| 3/2/2017 | Joseph Lebel III | EVP | Sell | 626 | $29.39 | $18,398.14 | | |
| 3/2/2017 | Joseph R Iantosca | CAO | Sell | 458 | $29.39 | $13,460.62 | | |
| 3/1/2017 | John R Garbarino | Director | Sell | 20,000 | $30.22 | $604,400.00 | | |
| 2/28/2017 | Michael D Devlin | Director | Sell | 76,058 | $29.12 | $2,214,808.96 | 200,871 | |
| 2/21/2017 | Michael D Devlin | Director | Sell | 5,849 | $29.50 | $172,545.50 | 130,662 | |
| 2/14/2017 | Michael D Devlin | Director | Sell | 4,801 | $29.72 | $142,685.72 | 129,614 | |
| 2/13/2017 | John R Garbarino | Director | Sell | 3,000 | $29.00 | $87,000.00 | | |
| 12/1/2016 | Angelo Catania | Director | Sell | 1,994 | $25.12 | $50,089.28 | | |
| 11/7/2016 | Joseph R Iantosca | CAO | Sell | 2,700 | $20.90 | $56,430.00 | | |
| 8/25/2016 | John R Garbarino | Chairman | Sell | 160,220 | $19.25 | $3,084,235.00 | | |
| 8/9/2016 | John R Garbarino | Chairman | Sell | 10,000 | $18.84 | $188,400.00 | | |
| 12/2/2014 | Christopher Maher | COO | Buy | 2,000 | $16.09 | $32,180.00 | | |
| 11/24/2014 | Donald E Mclaughlin | Director | Sell | 3,000 | $16.50 | $49,500.00 | | |
| 7/30/2014 | Christopher Maher | COO | Buy | 10,000 | $16.16 | $161,600.00 | | |
| 6/10/2014 | Joseph Lebel III | EVP | Buy | 1,812 | $16.56 | $30,006.72 | | |
| 11/12/2013 | Christopher Maher | COO | Buy | 1,000 | $17.75 | $17,750.00 | | |
| 10/30/2013 | Christopher Maher | COO | Buy | 1,000 | $18.00 | $18,000.00 | | |
| 8/26/2013 | Joseph Iantosca | CAO | Sell | 1,325 | $17.23 | $22,829.75 | | |
| 8/16/2013 | Christopher Maher | COO | Buy | 1,000 | $16.81 | $16,810.00 | | |
| 8/13/2013 | Donald Mclaughlin | Director | Sell | 3,000 | $17.01 | $51,030.00 | | |
(Data available from 1/1/2013 forward)
OceanFirst Financial (NASDAQ OCFC) News Headlines
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OceanFirst Financial (NASDAQ:OCFC) SEC Filings
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OceanFirst Financial (NASDAQ:OCFC) Income Statement, Balance Sheet and Cash Flow Statement
OceanFirst Financial (NASDAQ OCFC) Stock Chart for Monday, May, 21, 2018
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