OceanFirst Financial (OCFC) Stock Price, News & Analysis

Company Overview

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers. The company also offers commercial real estate, multi-family, land loans, construction, and commercial and industrial loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; and consumer loans, such as home equity loans and lines of credit, student loans, overdraft line of credit, loans on savings accounts, and other consumer loans. In addition, it invests in mortgage-backed securities, securities issued by the U.S. Government and agencies, corporate securities, and other investments. Further, the company offers bankcard, trust and asset management services; and bank owned life insurance products. The company was founded in 1902 and is based in Red Bank, New Jersey.

Key Stats

• Today's Range: $18.19 to $18.76
• 50-Day Range: $16.62 to $19.46
• 52-Week Range: $12.41 to $19.49
• Volume: 222,083 shs
• Average Volume: 304,375 shs
• Market Capitalization: $1.06 billion
• P/E Ratio: 10.40
• Dividend Yield: 4.40%
• Price Target: $19.30
• Consensus Rating: Hold

OceanFirst Financial Stock Analysis - MarketRank™

OceanFirst Financial scored higher than 67% of companies evaluated by MarketBeat, and ranked 468th out of 942 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.2 / 5
• Analyst Rating: Hold

Consensus Rating

OceanFirst Financial has received a consensus rating of Hold. The company's average rating score is 2.40, and is based on 2 buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

OceanFirst Financial has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 3.82%

Earnings Growth

Earnings for OceanFirst Financial are expected to grow by 3.82% in the coming year, from $1.57 to $1.63 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of OceanFirst Financial is 10.40, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 133.07.

Price to Earnings Ratio vs. Sector

The P/E ratio of OceanFirst Financial is 10.40, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 48.63.

Price to Book Value per Share Ratio

OceanFirst Financial has a P/B Ratio of 0.65. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.82% of the float of OceanFirst Financial has been sold short.

Short Interest Ratio / Days to Cover

OceanFirst Financial has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in OceanFirst Financial has recently decreased by 12.23%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Leadership

OceanFirst Financial is a leading dividend payer. It pays a dividend yield of 4.37%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

OceanFirst Financial does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of OceanFirst Financial is 45.71%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, OceanFirst Financial will have a dividend payout ratio of 49.08% next year. This indicates that OceanFirst Financial will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.82% of the float of OceanFirst Financial has been sold short.

Short Interest Ratio / Days to Cover

OceanFirst Financial has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in OceanFirst Financial has recently decreased by 12.23%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.3 / 5
• News Sentiment: N/A

News Sentiment

OceanFirst Financial has a news sentiment score of 1.17. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.60 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 1 news article for OceanFirst Financial this week, compared to 2 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, OceanFirst Financial insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 5.00% of the stock of OceanFirst Financial is held by insiders.

Percentage Held by Institutions

70.98% of the stock of OceanFirst Financial is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

OCFC Stock Analysis - Frequently Asked Questions

How have OCFC shares performed this year?

OceanFirst Financial's stock was trading at $17.36 on January 1st, 2024. Since then, OCFC stock has increased by 4.8% and is now trading at $18.20.
View the best growth stocks for 2024 here.

How were OceanFirst Financial's earnings last quarter?

OceanFirst Financial Corp. (NASDAQ:OCFC) announced its quarterly earnings data on Thursday, July, 18th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.03. The savings and loans company had revenue of $170.41 million for the quarter, compared to analysts' expectations of $94.93 million. OceanFirst Financial had a trailing twelve-month return on equity of 6.10% and a net margin of 15.28%.

Who are OceanFirst Financial's major shareholders?

OceanFirst Financial's top institutional investors include Wedge Capital Management L L P NC (0.31%), Addison Capital Co (0.25%), Creative Planning (0.07%) and SG Americas Securities LLC (0.07%). Insiders that own company stock include Joseph M Jr Murphy, Michael D Devlin, Brian Schaeffer, Anthony Giordano III, Jack M Farris, Patricia Lynne Turner, Joseph Lebel III, Steven James Tsimbinos, Patrick Sean Barrett, Christopher Maher, John F Barros, Robert C Garrett, Michele B Estep, Karthik Sridharan, Angela K Ho and Nicos Katsoulis.
View institutional ownership trends.

How do I buy shares of OceanFirst Financial?

Shares of OCFC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of OceanFirst Financial own?

Based on aggregate information from My MarketBeat watchlists, some other companies that OceanFirst Financial investors own include JPMorgan Chase & Co. (JPM), Tesla (TSLA), Advanced Micro Devices (AMD), Meta Platforms (META), Alphabet (GOOG), Home Depot (HD) and NVIDIA (NVDA).

Company Calendar

• Last Earnings: 7/18/2024
• Ex-Dividend for 8/16 Dividend: 8/05/2024
• Dividend Payable: 8/16/2024
• Today: 10/31/2024
• Ex-Dividend for 11/15 Dividend: 11/04/2024
• Dividend Payable: 11/15/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/16/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: National commercial banks
• Sub-Industry: Thrifts & Mortgage Finance
• Current Symbol: NASDAQ:OCFC
• CUSIP: 67523410
• CIK: 1004702
• Web: www.oceanfirst.com
• Phone: (732) 240-4500
• Fax: 302-655-5049
• Employees: 878
• Year Founded: 1902

Price Target and Rating

• Average Stock Price Target: $19.30
• High Stock Price Target: $21.50
• Low Stock Price Target: $17.00
• Potential Upside/Downside: +6.0%
• Consensus Rating: Hold
• Rating Score (0-4): 2.40
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.75
• Trailing P/E Ratio: 10.40
• Forward P/E Ratio: 11.59
• P/E Growth: N/A
• Net Income: $104.03 million
• Net Margins: 15.28%
• Pretax Margin: 19.55%
• Return on Equity: 6.10%
• Return on Assets: 0.76%

Debt

• Debt-to-Equity Ratio: 0.74
• Current Ratio: 1.01
• Quick Ratio: 1.01

Sales & Book Value

• Annual Sales: $384.08 million
• Price / Sales: 2.77
• Cash Flow: $2.21 per share
• Price / Cash Flow: 8.23
• Book Value: $27.96 per share
• Price / Book: 0.65

Miscellaneous

• Outstanding Shares: 58,484,000
• Free Float: 55,560,000
• Market Cap: $1.06 billion
• Optionable: Optionable
• Beta: 1.01