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OCFC

OceanFirst Financial NasdaqGS:OCFC Stock Report

Last Price

US$19.52

Market Cap

US$1.1b

7D

-2.4%

1Y

-4.4%

Updated

24 Sep, 2022

Data

Company Financials +
OCFC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance4/6
Financial Health6/6
Dividends5/6

OCFC Stock Overview

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A.

OceanFirst Financial Competitors

Price History & Performance

Summary of all time highs, changes and price drops for OceanFirst Financial
Historical stock prices
Current Share PriceUS$19.52
52 Week HighUS$24.25
52 Week LowUS$18.24
Beta0.83
1 Month Change-4.31%
3 Month Change3.17%
1 Year Change-4.36%
3 Year Change-16.87%
5 Year Change-28.99%
Change since IPO175.58%

Recent News & Updates

Aug 04

Ocean First Financial goes ex-dividend tomorrow

Ocean First Financial (NASDAQ:OCFC) had declared $0.20/share quarterly dividend, 17.6% increase from prior dividend of $0.17. Payable Aug. 19; for shareholders of record Aug. 8; ex-div Aug. 5. See OCFC Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

OCFCUS BanksUS Market
7D-2.4%-5.8%-5.2%
1Y-4.4%-21.7%-23.1%

Return vs Industry: OCFC exceeded the US Banks industry which returned -21.7% over the past year.

Return vs Market: OCFC exceeded the US Market which returned -23.1% over the past year.

Price Volatility

Is OCFC's price volatile compared to industry and market?
OCFC volatility
OCFC Average Weekly Movement3.2%
Banks Industry Average Movement3.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.8%

Stable Share Price: OCFC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: OCFC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1902916Chris Maherhttps://www.oceanfirst.com

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.

OceanFirst Financial Fundamentals Summary

How do OceanFirst Financial's earnings and revenue compare to its market cap?
OCFC fundamental statistics
Market CapUS$1.15b
Earnings (TTM)US$97.53m
Revenue (TTM)US$370.08m

11.7x

P/E Ratio

0.8x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OCFC income statement (TTM)
RevenueUS$370.08m
Cost of RevenueUS$0
Gross ProfitUS$370.08m
Other ExpensesUS$272.55m
EarningsUS$97.53m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 24, 2022

Earnings per share (EPS)1.66
Gross Margin100.00%
Net Profit Margin26.35%
Debt/Equity Ratio56.6%

How did OCFC perform over the long term?

See historical performance and comparison

Dividends

4.1%

Current Dividend Yield

43%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is OCFC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OCFC?

Other financial metrics that can be useful for relative valuation.

OCFC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does OCFC's PE Ratio compare to its peers?

OCFC PE Ratio vs Peers
The above table shows the PE ratio for OCFC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12x
SBSI Southside Bancshares
10.9x2.0%US$1.2b
GABC German American Bancorp
14.9x20.3%US$1.1b
STBA S&T Bancorp
11.1x2.3%US$1.2b
LBAI Lakeland Bancorp
12x17.4%US$1.1b
OCFC OceanFirst Financial
11.7x28.3%US$1.1b

Price-To-Earnings vs Peers: OCFC is good value based on its Price-To-Earnings Ratio (11.7x) compared to the peer average (12x).


Price to Earnings Ratio vs Industry

How does OCFC's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: OCFC is expensive based on its Price-To-Earnings Ratio (11.7x) compared to the US Banks industry average (9.7x)


Price to Earnings Ratio vs Fair Ratio

What is OCFC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OCFC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.7x
Fair PE Ratio18x

Price-To-Earnings vs Fair Ratio: OCFC is good value based on its Price-To-Earnings Ratio (11.7x) compared to the estimated Fair Price-To-Earnings Ratio (18x).


Share Price vs Fair Value

What is the Fair Price of OCFC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OCFC ($19.52) is trading below our estimate of fair value ($29.07)

Significantly Below Fair Value: OCFC is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is OceanFirst Financial forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


28.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OCFC's forecast earnings growth (28.3% per year) is above the savings rate (1.9%).

Earnings vs Market: OCFC's earnings (28.3% per year) are forecast to grow faster than the US market (14.7% per year).

High Growth Earnings: OCFC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: OCFC's revenue (14.8% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: OCFC's revenue (14.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: OCFC's Return on Equity is forecast to be low in 3 years time (10.5%).


Discover growth companies

Past Performance

How has OceanFirst Financial performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


17.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OCFC has high quality earnings.

Growing Profit Margin: OCFC's current net profit margins (26.4%) are higher than last year (24.9%).


Past Earnings Growth Analysis

Earnings Trend: OCFC's earnings have grown by 17.2% per year over the past 5 years.

Accelerating Growth: OCFC's earnings growth over the past year (11.7%) is below its 5-year average (17.2% per year).

Earnings vs Industry: OCFC earnings growth over the past year (11.7%) exceeded the Banks industry 8.7%.


Return on Equity

High ROE: OCFC's Return on Equity (6.7%) is considered low.


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Financial Health

How is OceanFirst Financial's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: OCFC's Assets to Equity ratio (8.2x) is low.

Allowance for Bad Loans: OCFC has a sufficient allowance for bad loans (251%).

Low Risk Liabilities: 90% of OCFC's liabilities are made up of primarily low risk sources of funding.

Loan Level: OCFC has an appropriate level of Loans to Assets ratio (75%).

Low Risk Deposits: OCFC's Loans to Deposits ratio (95%) is appropriate.

Level of Bad Loans: OCFC has an appropriate level of bad loans (0.2%).


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Dividend

What is OceanFirst Financial current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.10%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: OCFC's dividend (4.1%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: OCFC's dividend (4.1%) is low compared to the top 25% of dividend payers in the US market (4.57%).


Stability and Growth of Payments

Stable Dividend: OCFC's dividends per share have been stable in the past 10 years.

Growing Dividend: OCFC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (42.9%), OCFC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: OCFC's dividends in 3 years are forecast to be well covered by earnings (25.4% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Chris Maher (55 yo)

7.67yrs

Tenure

US$3,161,351

Compensation

Mr. Christopher D. Maher, also known as Chris, serves as Director of Federal Reserve Bank of Philadelphia. Mr. Maher has been the Chief Executive Officer of OceanFirst Financial Corp and Bank since January...


CEO Compensation Analysis

Compensation vs Market: Chris's total compensation ($USD3.16M) is about average for companies of similar size in the US market ($USD4.14M).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: OCFC's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: OCFC's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OCFC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NasdaqGS:OCFC Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
02 Aug 22SellUS$1,236,600Michael DevlinIndividual60,000US$20.61
24 Jun 22BuyUS$198,555Patrick BarrettIndividual10,500US$18.91
13 May 22BuyUS$37,980Nicos KatsoulisIndividual2,000US$18.99
12 May 22BuyUS$5,514Patricia TurnerIndividual300US$18.38
10 Mar 22BuyUS$42,800Nicos KatsoulisIndividual2,000US$21.40
07 Mar 22SellUS$488,294Christopher MaherIndividual22,025US$22.17
07 Mar 22SellUS$71,698Karthik SridharanIndividual3,234US$22.17
07 Mar 22SellUS$118,055Joseph LebelIndividual5,325US$22.17
07 Mar 22SellUS$16,450Angela HoIndividual742US$22.17
07 Mar 22SellUS$39,174Anthony GiordanoIndividual1,767US$22.17
07 Mar 22SellUS$84,024Michele EstepIndividual3,790US$22.17
29 Nov 21BuyUS$62,700Nicos KatsoulisIndividual3,000US$20.90

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 54.87% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
10.1%
BlackRock, Inc.
5,925,203$115.7m0.56%no data
5.37%
Dimensional Fund Advisors LP
3,154,581$61.6m8.67%0.02%
5.28%
The Vanguard Group, Inc.
3,100,419$60.5m2.43%no data
3.19%
GW&K Investment Management, LLC
1,873,337$36.6m5.27%0.39%
2.89%
Endeavour Capital Advisors Inc.
1,693,902$33.1m-3.26%6.76%
2.74%
State Street Global Advisors, Inc.
1,608,136$31.4m-7.71%no data
2.52%
Goldman Sachs Asset Management, L.P.
1,479,310$28.9m-18.66%0.01%
2.52%
Hood River Capital Management LLC
1,478,654$28.9m4.74%1.08%
2.1%
J.P. Morgan Asset Management, Inc.
1,232,418$24.1m1.75%no data
1.82%
Geode Capital Management, LLC
1,066,993$20.8m-1.92%no data
1.66%
Invesco Ltd.
971,800$19.0m-1.65%0.01%
1.62%
Columbia Management Investment Advisers, LLC
949,705$18.5m2.6%0.01%
1.42%
Systematic Financial Management LP
833,651$16.3m0.83%0.52%
1.33%
Loomis Sayles & Company, L.P.
781,124$15.2m-0.87%0.03%
1.21%
Schroder Investment Management North America Inc.
709,182$13.8m0.1%0.05%
1.17%
Blackstone Inc.
689,483$13.5m0.32%0.04%
1.05%
Peregrine Capital Management, LLC
616,306$12.0m12.26%0.33%
1.05%
Kennedy Capital Management, Inc.
616,102$12.0m-0.98%0.34%
1.03%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
603,114$11.8m2.06%no data
0.98%
Northern Trust Global Investments
576,069$11.2m-1.17%no data
0.97%
Charles Schwab Investment Management, Inc.
571,894$11.2m11.36%no data
0.85%
Hotchkis and Wiley Capital Management, LLC
499,430$9.7m6.45%0.04%
0.75%
BNY Mellon Asset Management
439,192$8.6m-5.27%no data
0.65%
Bridgeway Capital Management, LLC
378,719$7.4m0%0.17%
0.61%
WEDGE Capital Management LLP
355,374$6.9m-3.94%0.11%

Company Information

OceanFirst Financial Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: OceanFirst Financial Corp.
  • Ticker: OCFC
  • Exchange: NasdaqGS
  • Founded: 1902
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$1.146b
  • Shares outstanding: 58.69m
  • Website: https://www.oceanfirst.com

Number of Employees


Location

  • OceanFirst Financial Corp.
  • 110 West Front Street
  • Red Bank
  • New Jersey
  • 7701
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OCFCNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 1996
OCFC.PNasdaqGS (Nasdaq Global Select)7% DP SHS PFD AUSUSDMay 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.