OceanFirst FinancialOCFC
OCFC
About: 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.
Employees: 920
0
Funds holding %
of 6,790 funds
0
Analysts bullish %
of 3 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
9,575% more call options, than puts
Call options by funds: $387K | Put options by funds: $4K
69% more first-time investments, than exits
New positions opened: 27 | Existing positions closed: 16
15% more capital invested
Capital invested by funds: $680M [Q2] → $779M (+$98.7M) [Q3]
6% more funds holding
Funds holding: 182 [Q2] → 193 (+11) [Q3]
5% more repeat investments, than reductions
Existing positions increased: 66 | Existing positions reduced: 63
1.52% less ownership
Funds ownership: 72.88% [Q2] → 71.36% (-1.52%) [Q3]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$22
8%
upside
Avg. target
$22
8%
upside
High target
$22
8%
upside
3 analyst ratings
0 positive
0%
3 neutral
100%
0 negative
0%
Keefe, Bruyette & Woods Timothy Switzer 79% 1-year accuracy 11 / 14 met price target | 8%upside $22 | Market Perform Maintained | 4 Dec 2024 |
DA Davidson Manuel Navas 75% 1-year accuracy 3 / 4 met price target | 8%upside $22 | Neutral Maintained | 4 Dec 2024 |
DA Davidson Manuel Navas 75% 1-year accuracy 3 / 4 met price target | 8%upside $22 | Neutral Maintained | 18 Nov 2024 |
Financial journalist opinion
Neutral
GlobeNewsWire
4 weeks ago
OceanFirst Financial Corp. and OceanFirst Bank N.A. Receive Moody's Investment Grade Ratings
OceanFirst Bank N.A. receives Deposit Ratings of A3/Prime-2 and OceanFirst Financial Corp. receives an Issuer Rating of Baa3 OceanFirst Bank N.A. receives Deposit Ratings of A3/Prime-2 and OceanFirst Financial Corp. receives an Issuer Rating of Baa3
Neutral
Seeking Alpha
1 month ago
OceanFirst Financial Corp. (OCFC) Q3 2024 Earnings Call Transcript
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q3 2024 Earnings Conference Call October 18, 2024 11:00 AM ET Company Participants Alfred Goon - Senior Vice President, Corporate Development and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel - President and Chief Operating Officer Patrick Barrett - Executive Vice President and Chief Financial Officer Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Tim Switzer - KBW David Bishop - Hovde Matthew Breese - Stephens Manuel Navas - D.A. Davidson Christopher Marinac - JMS Operator Good morning, and thank you all for attending the OceanFirst Financial Corp. Third Quarter '24 Earnings Release Conference Call.
Positive
Seeking Alpha
1 month ago
OceanFirst Financial: Another Regional Bank At Highs, Mixed Operational Performance
OceanFirst Financial Corp.'s attractive 5% dividend yield is tempting, but concerns about its commercial real estate loan portfolio make it risky. Q3 earnings were mixed: deposits and loans dipped, but loan loss provisions and book value improved. Asset quality metrics were mixed; net charge-offs increased, and non-performing loans rose, but the efficiency ratio improved.
Positive
Zacks Investment Research
1 month ago
OceanFirst (OCFC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Although the revenue and EPS for OceanFirst (OCFC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Positive
Zacks Investment Research
1 month ago
OceanFirst Financial (OCFC) Q3 Earnings and Revenues Top Estimates
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.32 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
OceanFirst Financial Corp. Announces Third Quarter Financial Results
RED BANK, N.J., Oct. 17, 2024 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), announced net income available to common stockholders of $24.1 million, or $0.42 per diluted share, for the three months ended September 30, 2024, an increase from $19.7 million, or $0.33 per diluted share, for the corresponding prior year period, and $23.4 million, or $0.40 per diluted share, for the prior linked quarter. For the nine months ended September 30, 2024, the Company reported net income available to common stockholders of $75.1 million, or $1.29 per diluted share, an increase from $73.3 million, or $1.24 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):
Neutral
Zacks Investment Research
1 month ago
Seeking Clues to OceanFirst (OCFC) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics
Evaluate the expected performance of OceanFirst (OCFC) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Positive
Zacks Investment Research
1 month ago
OceanFirst Financial (OCFC) Reports Next Week: Wall Street Expects Earnings Growth
OceanFirst (OCFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Neutral
GlobeNewsWire
1 month ago
OceanFirst Bank Secures $50,000 in Small Business Recovery Grants from Federal Home Loan Bank to Benefit Ten Local Nonprofit Organizations
RED BANK, N.J., Oct. 07, 2024 (GLOBE NEWSWIRE) -- OceanFirst Bank N.A. (the “Bank” or “OceanFirst”), a subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), has helped ten nonprofit organizations in its market area to apply for and obtain Small Business Recovery Grants totaling $50,000 through a program created by the Federal Home Loan Bank of New York (FHLBNY). The grants are designed to assist eligible organizations who have faced economic challenges due to the rate environment, inflation, supply-chain constraints, or rising energy costs.
Neutral
GlobeNewsWire
2 months ago
CommUNITYFirst Day 2024, Held on September 24th, Benefits Thousands
700+ OceanFirst Bank Employees Volunteer 3,000 Hours at Nonprofit Organizations in Four States 700+ OceanFirst Bank Employees Volunteer 3,000 Hours at Nonprofit Organizations in Four States
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