OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A.
Very undervalued with excellent balance sheet.
Share Price & News
How has OceanFirst Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: OCFC has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: OCFC underperformed the US Mortgage industry which returned 4.9% over the past year.
Return vs Market: OCFC underperformed the US Market which returned 18% over the past year.
Price Volatility Vs. Market
How volatile is OceanFirst Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StHave Insiders Sold OceanFirst Financial Corp. (NASDAQ:OCFC) Shares Recently?
1 week ago | Simply Wall StWhat Kind Of Shareholders Own OceanFirst Financial Corp. (NASDAQ:OCFC)?
3 weeks ago | Simply Wall StIs It Smart To Buy OceanFirst Financial Corp. (NASDAQ:OCFC) Before It Goes Ex-Dividend?
Is OceanFirst Financial undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: OCFC ($23.27) is trading below our estimate of fair value ($32.87)
Significantly Below Fair Value: OCFC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: OCFC is good value based on its PE Ratio (13.2x) compared to the Mortgage industry average (13.6x).
PE vs Market: OCFC is good value based on its PE Ratio (13.2x) compared to the US market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: OCFC is good value based on its PEG Ratio (0.7x)
Price to Book Ratio
PB vs Industry: OCFC is good value based on its PB Ratio (1x) compared to the US Mortgage industry average (1.1x).
How is OceanFirst Financial forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: OCFC's forecast earnings growth (18.1% per year) is above the savings rate (1.7%).
Earnings vs Market: OCFC's earnings (18.1% per year) are forecast to grow faster than the US market (14.2% per year).
High Growth Earnings: OCFC's earnings are forecast to grow, but not significantly.
Revenue vs Market: OCFC's revenue (11.6% per year) is forecast to grow faster than the US market (7.6% per year).
High Growth Revenue: OCFC's revenue (11.6% 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 (9.4%).
How has OceanFirst Financial performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: OCFC has high quality earnings.
Growing Profit Margin: OCFC's current net profit margins (29.9%) are higher than last year (26.4%).
Past Earnings Growth Analysis
Earnings Trend: OCFC's earnings have grown significantly by 37.1% per year over the past 5 years.
Accelerating Growth: OCFC's earnings growth over the past year (23.1%) is below its 5-year average (37.1% per year).
Earnings vs Industry: OCFC earnings growth over the past year (23.1%) exceeded the Mortgage industry 11.3%.
Return on Equity
High ROE: OCFC's Return on Equity (7.7%) is considered low.
Return on Assets
Return on Capital Employed
How is OceanFirst Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: OCFC has a low level of unsold assets or inventory.
Debt Coverage by Assets: OCFC's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: OCFC's level of assets compared to its equity is low.
Allowance for Bad Loans: OCFC has a low allowance for bad loans.
Low Risk Liabilities: OCFC's liabilities are made up of primarily low risk sources of funding.
Loan Level: OCFC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: OCFC's loans are broadly funded by customer deposits.
Level of Bad Loans: OCFC has an appropriate level of bad loans (0.29%)
What is OceanFirst Financial's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: OCFC's dividend (2.92%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: OCFC's dividend (2.92%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
Stable Dividend: OCFC's dividend payments have been volatile in the past 10 years.
Growing Dividend: OCFC's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.5%), 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 (34.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Chris Maher (52yo)
Mr. Christopher D. Maher, also known as Chris, has been the President of OceanFirst Financial Corp. (the “Financial Corp “) and OceanFirst Bank, National Association (the “Bank”) since March 25, 2013. He s ...
CEO Compensation Analysis
Compensation vs Market: Chris's total compensation ($USD2.93M) is about average for companies of similar size in the US market ($USD3.80M).
Compensation vs Earnings: Chris's compensation has increased by more than 20% in the past year.
|Executive VP & CFO||25.1yrs||US$1.05m||0.39% $5.5m|
|Executive VP & Chief Operating Officer||1.1yrs||US$1.35m||0.15% $2.1m|
|Executive VP||0yrs||US$1.12m||0.10% $1.5m|
|Independent Director||3.3yrs||US$137.06k||0.17% $2.3m|
|Senior VP & Principal Accounting Officer||2.9yrs||no data||0.012% $169.3k|
|Interim Chief Information Officer||0.6yrs||no data||0.042% $593.7k|
|Executive VP & Chief Administrative Officer||1.1yrs||no data||0.074% $1.0m|
|Senior VP & Investor Relations Officer||0yrs||no data||no data|
Experienced Management: OCFC's management team is considered experienced (2 years average tenure).
|Independent Director||3.3yrs||US$137.06k||0.17% $2.3m|
|Executive VP||1.1yrs||no data||0.044% $626.9k|
|Independent Director||2.1yrs||US$102.33k||0.010% $144.8k|
|Independent Director||2.1yrs||US$97.33k||0.071% $997.4k|
|Lead Director||0yrs||US$139.14k||0.057% $807.3k|
|Independent Director||14.1yrs||US$135.50k||0.048% $678.9k|
|Independent Director||3.8yrs||US$110.83k||0.24% $3.4m|
|Independent Director||3.3yrs||US$105.13k||0.028% $390.8k|
|Independent Director||4.9yrs||US$106.15k||0.011% $158.6k|
Experienced Board: OCFC's board of directors are considered experienced (3.3 years average tenure).
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
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.3%.
OceanFirst Financial Corp.'s company bio, employee growth, exchange listings and data sources
- Name: OceanFirst Financial Corp.
- Ticker: OCFC
- Exchange: NasdaqGS
- Founded: 1902
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: US$1.411b
- Shares outstanding: 60.12m
- Website: https://www.oceanfirst.com
Number of Employees
- OceanFirst Financial Corp.
- 110 West Front Street
- Red Bank
- New Jersey
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|OCFC||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jul 1996|
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, student loans, 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 its branch office in Toms River; administrative office located in Red Bank; and 58 additional branch offices and 3 deposit production facilities located throughout central and southern New Jersey, as well as commercial loan production offices in New York City, the Philadelphia area and Atlantic, Cape May, and Mercer Counties in New Jersey. OceanFirst Financial Corp. was founded in 1902 and is based in Red Bank, New Jersey.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/22 00:29|
|End of Day Share Price||2020/02/21 00:00|
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.