Financial Services -
Banks - Regional - NASDAQ - US
$ 14.96
-0.73 %
$ 876 M
Market Cap
9.07
P/E
1. INTRINSIC VALUE
Balance Sheet
OceanFirst Financial Corp.
| Current Assets | 11.1 B |
| Cash & Short-Term Investments | 951 M |
| Receivables | 10.1 B |
| Other Current Assets | 0 |
| Non-Current Assets | 651 M |
| Long-Term Investments | 0 |
| PP&E | 115 M |
| Other Non-Current Assets | 536 M |
| Current Liabilities | 0 |
| Accounts Payable | 0 |
| Short-Term Debt | 0 |
| Other Current Liabilities | 0 |
| Non-Current Liabilities | 1.2 B |
| Long-Term Debt | 1.2 B |
| Other Non-Current Liabilities | 0 |
EFFICIENCY
Earnings Waterfall
OceanFirst Financial Corp.
| Revenue | 380 M |
| Cost Of Revenue | 25.1 M |
| Gross Profit | 355 M |
| Operating Expenses | 380 M |
| Operating Income | -20 K |
| Other Expenses | -100 M |
| Net Income | 100 M |
RATIOS
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
OceanFirst Financial Corp.
| Net Income | 100 M |
| Depreciation & Amortization | 1.21 M |
| Capital Expenditures | 0 |
| Stock-Based Compensation | 0 |
| Change in Working Capital | 0 |
| Others | -67.4 M |
| Free Cash Flow | 51.8 M |
Wall Street Analysts Price Targets
OceanFirst Financial Corp.
Wall Street analysts predict an average 1-year price target for OCFC of $19.3 , with forecasts ranging from
a
low of
$17 to a high of $22 .
OCFC Lowest Price Target
Wall Street Target
17 USD
13.64%
OCFC Average Price Target
Wall Street Target
19.3 USD
29.23%
OCFC Highest Price Target
Wall Street Target
22 USD
47.06%
4. DIVIDEND
ANALYSIS
1.21%
DIVIDEND YIELD
0.2 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
OceanFirst Financial Corp.
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
30 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
54.2 K USD 1
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
OceanFirst Financial Will Likely Call Its Preferred Shares
OceanFirst Financial's Q4 performance was weaker than expected due to higher loan loss provisions, resulting in a lower net income of $21.9M. The preferred stock remains attractive with a current yield of 6.97%, but investors should be cautious of potential calls due to high future dividend costs. Management is considering partial redemption of preferred shares to manage capital costs. A full call would boost EPS on common shares by $0.10 annually.
seekingalpha.com
- 2 months ago
OceanFirst Financial Corp. (OCFC) Q4 2024 Earnings Conference Call Transcript
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q4 2024 Earnings Conference Call January 24, 2025 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 Tim Switzer - KBW Christopher Marinac - Janney Montgomery Scott David Bishop - Hovde Group Matthew Breese - Stephens Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Operator Good morning, and thank you all for attending the OceanFirst Financial Corp. Q4 2024 Earnings Call. My name is, Brika, and I will be your moderator for today.
seekingalpha.com
- 2 months ago
OceanFirst (OCFC) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
The headline numbers for OceanFirst (OCFC) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
zacks.com
- 2 months ago
OceanFirst Financial (OCFC) Q4 Earnings Beat Estimates
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.45 per share a year ago.
zacks.com
- 2 months ago
OceanFirst Financial Corp. Announces Quarterly and Annual Financial Results
RED BANK, N.J., Jan. 23, 2025 (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 $20.9 million, or $0.36 per diluted share, for the quarter ended December 31, 2024, a decrease from $26.7 million, or $0.46 per diluted share, for the corresponding prior year period, and $24.1 million, or $0.42 per diluted share, for the prior linked quarter. For the year ended December 31, 2024, the Company reported net income available to common stockholders of $96.0 million, or $1.65 per diluted share, a decrease from $100.0 million, or $1.70 per diluted share, for the prior year. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):
globenewswire.com
- 2 months ago
OceanFirst Financial Corp. Declares Quarterly Cash Dividend for Series A Preferred Stock
RED BANK, N.J., Jan. 21, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:“OCFC”), (the “Company”), announced that its Board of Directors has declared a quarterly cash dividend of $0.4375 per share for every depositary share, representing 1/40th interest in the Series A Preferred Stock, payable on February 17, 2025 to stockholders of record on January 31, 2025.
globenewswire.com
- 2 months ago
Insights Into OceanFirst (OCFC) Q4: Wall Street Projections for Key Metrics
Beyond analysts' top -and-bottom-line estimates for OceanFirst (OCFC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024.
zacks.com
- 2 months ago
OceanFirst Financial Corp. Schedules Earnings Conference Call
RED BANK, N.J., Jan. 06, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended December 31, 2024 on Thursday, January 23, 2025 after the market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, January 24, 2025 to discuss highlights of the Company's quarterly operating performance.
globenewswire.com
- 3 months 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
globenewswire.com
- 5 months 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.
seekingalpha.com
- 5 months 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.
seekingalpha.com
- 5 months 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.
zacks.com
- 5 months ago
8. Profile
Summary
OceanFirst Financial Corp. OCFC
COUNTRY
US
INDUSTRY
Banks - Regional
MARKET CAP
$ 876 M
Dividend Yield
1.21%
Description
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time 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, wealth management, and trust and asset management services; and sells alternative investment products and life insurance products. As of December 31, 2021, it operated through its branch office in Toms River; administrative office located in Red Bank and Mount Laurel; 46 additional branch offices and four deposit production facilities located throughout central and southern New Jersey; and commercial loan production offices in New Jersey, New York City, the Philadelphia area, Baltimore, and Boston. The company was founded in 1902 and is based in Red Bank, New Jersey.
Contact
110 West Front Street, Red Bank, NJ, 07701
https://www.oceanfirst.com
IPO
Date
July 3, 1996
Employees
975
Officers
Mr. Kevin Georgetti
Senior Vice President & Chief Compliance Officer
Mr. Patrick Chong
Senior Vice President, Corporate Controller & Principal Accounting Officer
Mr. Joseph J. Lebel III
President, Chief Operating Officer & Director
Mr. Brian E. Schaeffer CISA, CISSP
Senior Vice President & Chief Information Officer of OceanFirst Bank, N.A.
Mr. David L. Berninger
Executive Vice President & CRO
Mr. Steven J. Tsimbinos Esq.
Executive Vice President, General Counsel & Corporate Secretary
Mr. Patrick S. Barrett
Chief Financial Officer & Executive Vice President
Ms. Michele B. Estep
EVice President and Chief Administrative Officer of OceanFirst Bank, N.A.
Mr. Christopher D. Maher
Chairman & Chief Executive Officer
Mr. Anthony Giordano III
Executive Vice President & Chief of Banking Operations