OceanFirst Financial Corp.
OCFCP
NASDAQ Global Select25.00
USD
+0.00
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OceanFirst Financial Corp.
OCFCP
(NASDAQ Global Select)
Recent
price
25.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- OceanFirst Financial Corp. (NASDAQ:OCFCP) operates as the holding company for OceanFirst Bank N.A., a regional community bank that provides retail and commercial banking services; deposit products including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers; lending products such as commercial real estate loans, multi-family loans, land loans, construction loans, commercial and industrial loans, fixed-rate and adjustable-rate residential mortgages secured by one-to-four family residences, home equity loans and lines of credit, student loans, overdraft lines of credit, loans on savings accounts, and other consumer loans; investment services encompassing mortgage-backed securities, U.S. government and agency securities, corporate securities, and other investments; and additional offerings like bankcard services, wealth management, trust and asset management, fiduciary services, estate planning, commercial treasury management including receivables and payables solutions, online and mobile merchant services, fraud prevention, equipment financing, and commercial credit cards. OceanFirst Bank, founded in 1902 and headquartered in Red Bank, New Jersey, maintains approximately 46 branches and deposit production facilities primarily in central and southern New Jersey, with commercial loan production offices extending to New York City, the Philadelphia metropolitan area, Baltimore, Boston, and the Greater Washington, D.C. region, serving over 230,000 customers including individuals, families, small businesses, mid-sized enterprises, high-net-worth individuals, and non-profits. In recent developments, the company completed the acquisition of Garden State Home Loans, Inc. in 2024 to bolster mortgage loan activities; announced a 2025 stock repurchase program in July 2025 authorizing the buyback of up to 3 million shares, or about 5% of outstanding common stock, incremental to its existing 2021 program; priced $185 million of 6.375% fixed-to-floating subordinated notes due 2035 in October 2025; and shifted its residential mortgage origination strategy by partnering with a national mortgage banking firm, such as Embrace Home Loans, to outsource originations starting in late 2025, reducing headcount by over 10% including 114 jobs and operating expenses while maintaining customer access to mortgage products.
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