Oceanfirst Finl Corp Stock Price, News & Analysis

OceanFirst Financial Corp. (NASDAQ:OCFC) has declared a quarterly cash dividend of $0.4375 per share on its Series A Preferred Stock. This dividend is payable on November 15, 2021 to stockholders of record as of October 29, 2021. OceanFirst Bank, founded in 1902, offers a variety of financial services across New Jersey and major metropolitan areas, enhancing its reputation as one of the largest community-based financial institutions in the region.

OceanFirst Financial Corp. (NASDAQ:OCFC) will release its earnings for the quarter ending September 30, 2021, on October 28, 2021, after market close. A conference call is scheduled for October 29, 2021, at 11:00 a.m. ET to discuss third-quarter highlights. The call can be accessed at 1-844-200-6205, with a replay available until January 27, 2022. OceanFirst Bank, a regional bank established in 1902, manages $11.5 billion in assets and offers various financial services throughout New Jersey and major metropolitan areas. More details can be found on their website.

OceanFirst Financial Corp. (OCFC) has entered into an agreement for First Bank to acquire two New Jersey branches, including approximately $124 million in deposits and $14 million in loans as of June 30, 2021. The acquisition involves the owned premises at appraised value and deposits at a premium of $2.5 million. This strategic move aims to enhance First Bank's footprint along the New York City to Philadelphia corridor and is expected to boost long-term value creation. The transaction awaits regulatory clearance and is projected for completion in Q4 2021.

OceanFirst Financial Corp. (NASDAQ: OCFC) reported net income of $29.6 million, or $0.49 per diluted share, for Q2 2021, up from $18.6 million or $0.31 per share in Q2 2020. For H1 2021, net income reached $61.2 million, or $1.02 per share, compared to $35.2 million or $0.58 per share in the previous year. The loan pipeline hit a record $628.6 million, while net interest income was $74 million, slightly increasing from the previous quarter. A quarterly dividend of $0.17 per share was declared. Key strategic focuses include commercial banking expansion and a successful core system upgrade.

OceanFirst Financial Corp. (NASDAQ: OCFC) has expanded its commercial banking team with the appointments of Daniel Griggs and Tom Crawford as Presidents for the Boston and Baltimore markets, respectively. Griggs aims to build a team to serve businesses in Massachusetts, while Crawford leads efforts in Maryland. Both executives bring over 30 years of banking experience. The strategic move is part of OceanFirst's plans to enhance its commercial banking presence in key Northeast markets, reflecting its commitment to providing tailored financial solutions.

OceanFirst Financial Corp. (NASDAQ: OCFC) announced a quarterly cash dividend of $0.4375 per share for each depositary share representing a 1/40th interest in its Series A Preferred Stock. This dividend is payable on August 16, 2021, to stockholders on record as of July 30, 2021.

Founded in 1902, OceanFirst Bank N.A., a subsidiary of OceanFirst Financial, operates in New Jersey and major metropolitan markets, offering various financial services, including residential and commercial financing.

OceanFirst Financial Corp. (NASDAQ:OCFC) will release its earnings for the quarter ended June 30, 2021, on July 29, 2021, after market close. A conference call will follow on July 30, 2021, at 11:00 a.m. ET to discuss the second quarter's performance. OceanFirst Bank, a $11.6 billion regional bank, operates in New Jersey and metropolitan areas of Philadelphia and New York City, offering commercial and residential financing, trust management, and deposit services.

OceanFirst Financial Corp. (NASDAQ: OCFC) announced the initiation of a 2021 Stock Repurchase Program, allowing the buyback of approximately 3,000,000 shares, in addition to 1,519,145 shares remaining from the 2019 program. The company views this buyback as a favorable long-term investment, influenced by current market prices and economic conditions affecting both the bank and the broader industry.

OceanFirst Financial Corp. (NASDAQ: OCFC) reported a significant increase in net income for Q1 2021, reaching $31.7 million or $0.53 per diluted share, up from $16.5 million or $0.27 per diluted share a year prior. The results were bolstered by a release of credit loss expenses and improved operational efficiency, reflected in a 54.73% efficiency ratio. Total loans grew by $116.4 million, with record originations of $747.8 million. Additionally, the company declared a cash dividend of $0.17 per share, marking its 97th consecutive quarterly dividend.