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OceanFirst Financial Corp.

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers in the United States. The company accepts deposit products, such as money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, including brokered deposits. It 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, loans on savings accounts, overdraft line of credit, and other consumer loans. In addition, the company invests in mortgage-backed securities, securities issued by the U.S. government and agencies, corporate securities, and other investments; and provides bankcard services, trust and asset management products and services, deposit account services, sales of loans and investments, bank owned life insurance and commercial loan swap income. The company was founded in 1902 and is headquartered in Toms River, New Jersey.

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OceanFirst Financial Posts Second Quarter Net Loss After Flushing Acquisition

OceanFirst Financial Corp. reported a net loss of $3.0 million, or $0.04 per diluted share, for the second quarter of 2026, compared to net income of $16.2 million a year earlier, as the company absorbed $42.8 million in merger-related expenses from its June 1 acquisition of Flushing Financial Corporation. Core earnings, which exclude non-recurring items, rose to $30.5 million, or $0.43 per share, from $17.7 million a year ago, while net interest income climbed to $120.7 million and the net interest margin expanded 12 basis points to 3.05%. The Flushing deal added $8.69 billion in assets, $6.19 billion in loans, and $7.44 billion in deposits, and the company subsequently sold $1.31 billion of multifamily loans from the acquired portfolio at a price of 92.25% to reduce commercial real estate concentration. Total assets ended the quarter at $23.27 billion, and the board declared its 118th consecutive quarterly cash dividend of $0.20 per share, payable on August 21, 2026.
GlobeNewswire·27dRead more ▾
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Piper Sandler Initiates OceanFirst Financial with Neutral Rating, $19 Target

Piper Sandler assumed coverage of OceanFirst Financial Corp. with a Neutral rating and a price target of $19 on June 12, citing middling profitability as the bank digests its acquisition of Flushing Financial. The merger, completed on June 1, creates a regional bank operating under the OceanFirst brand across 71 retail branches in the Northeast, from Massachusetts to Virginia. Concurrently, the company completed a $225 million strategic investment from affiliates of funds managed by Warburg Pincus LLC.
Insider Monkey·56dRead more ▾
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OceanFirst Financial Completes Sale of $1.3 Billion in NYC Multifamily Loans

OceanFirst Financial Corp. has completed the previously announced sale of $1.3 billion of multifamily loans, largely in the New York City metropolitan area and mostly subject to NYC rent regulations. The sold portfolio consisted of approximately 1,400 multifamily loans, of which $736 million had rent-regulated exposure. The portfolio was originated by Flushing Bank and acquired by OceanFirst through its merger on June 1, 2026. Following the sale, the company’s exposure to loans with greater than 50% rent-regulated units represents less than 2.5% of total assets. CEO Christopher Maher said the transaction rebalances the company’s commercial real estate and multifamily exposure while meaningfully reducing rent regulation risk.
GlobeNewswire·58dRead more ▾
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Seeking Alpha analysts name top bank stock picks

Seeking Alpha analysts Labutes IR and Christopher Davis shared their current top bank stock picks. Labutes IR highlighted U.S. Bancorp for its above-average dividend yield and solid growth prospects, and Citigroup for its ongoing restructuring that should support higher profitability and a gradual valuation re-rating. Christopher Davis called JPMorgan the gold standard among large caps and also pointed to Goldman Sachs, while noting discounted regional banks OceansFirst and Farmers and Merchants Bancshares. He additionally flagged Brazilian digital bank Inter & Co., trading with a 0.2 PEG ratio and 40% EPS growth, as offering a very favorable risk-reward near $5.
Seeking Alpha·60dRead more ▾