OceanFirst Financial Corp. (OCFC) 10-Year Financial Performance & Capital Metrics

OCFC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutOceanFirst 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. In addition, it invests in mortgage-backed securities, securities issued by the U.S. Government and agencies, corporate securities, and other investments. Further, the company offers bankcard, wealth management, and trust and asset management services; and sells alternative investment products and life insurance products. As of December 31, 2021, it operated through its branch office in Toms River; administrative office located in Red Bank and Mount Laurel; 46 additional branch offices and four deposit production facilities located throughout central and southern New Jersey; and commercial loan production offices in New Jersey, New York City, the Philadelphia area, Baltimore, and Boston. The company was founded in 1902 and is based in Red Bank, New Jersey.Show more

Net Interest Income $334M -9.7%
Total Revenue $688M +8.0%
Net Income $100M -3.8%
Return on Equity 5.95% -7.2%
Net Interest Margin 2.49% -8.9%
Efficiency Ratio 35.1% -8.5%
ROA 0.74% -4.9%
Equity / Assets 12.69% +3.3%
Book Value per Share 29.21 +3.6%
Tangible BV/Share 20.01 +2.9%
Debt/Equity 0.74 +17.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 35.1% efficiency ratio
✓11 consecutive years of dividend growth
✓Well capitalized: 12.7% equity/assets
✓Healthy dividend yield of 4.7%
✓Trading at only 0.6x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y21.76%

5Y14.8%

3Y20.95%

TTM-

Profit (Net Income) CAGR

10Y17.52%

5Y2.47%

3Y-3.13%

TTM-24.61%

EPS CAGR

10Y3.32%

5Y-1.17%

3Y-2.5%

TTM-25.86%

ROCE

10Y Avg5.72%

5Y Avg5.53%

3Y Avg5.27%

Latest4.13%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	76.83M	120.26M	169.22M	240.5M	255.97M	312.95M	305.34M	377.48M	369.73M	334.04M
NII Growth %	0.06%	0.57%	0.41%	0.42%	0.06%	0.22%	-0.02%	0.24%	-0.02%	-0.1%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	85.86M	133.43M	188.83M	276.65M	308.79M	379.61M	342.09M	431.18M	607.97M	642.17M
Interest Expense	9.03M	13.16M	19.61M	36.15M	52.82M	66.66M	36.75M	53.7M	238.24M	308.14M
Loan Loss Provision	1.27M	2.62M	4.45M	3.49M	1.64M	59.4M	-11.83M	7.77M	17.68M	7.69M
Non-Interest Income+	14.61M	18.07M	23.51M	30.62M	36.21M	54.21M	46.75M	54.12M	28.98M	45.77M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	100.47M	151.49M	212.34M	307.27M	345M	433.82M	388.84M	485.3M	636.96M	687.95M
Revenue Growth %	0.05%	0.51%	0.4%	0.45%	0.12%	0.26%	-0.1%	0.25%	0.31%	0.08%
Non-Interest Expense	58.96M	100.51M	122.96M	182.13M	183.19M	226.72M	221.68M	229.91M	244.27M	241.47M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	31.2M	35.2M	65.33M	85.5M	107.36M	81.04M	142.24M	193.92M	136.76M	130.66M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.02%	0.13%	0.86%	0.31%	0.26%	-0.25%	0.76%	0.36%	-0.29%	-0.04%
Pretax Income+	31.2M	35.2M	65.33M	85.5M	107.36M	81.04M	142.24M	193.92M	136.76M	130.66M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	10.88M	12.15M	22.86M	13.57M	18.78M	17.73M	32.16M	46.56M	32.7M	30.27M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	20.32M	23.05M	42.47M	71.93M	88.57M	63.31M	110.08M	146.6M	104.03M	100.06M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	0.13%	0.84%	0.69%	0.23%	-0.29%	0.74%	0.33%	-0.29%	-0.04%
Net Income (Continuing)	20.32M	23.05M	42.47M	71.93M	88.57M	63.31M	110.08M	147.36M	104.06M	100.39M
EPS (Diluted)+	1.21	0.98	1.28	1.51	1.75	1.02	1.78	2.42	1.70	1.65
EPS Growth %	0.02%	-0.19%	0.31%	0.18%	0.16%	-0.42%	0.75%	0.36%	-0.3%	-0.03%
EPS (Basic)	1.22	1.00	1.32	1.54	1.77	1.02	1.79	2.43	1.70	1.65
Diluted Shares Outstanding	16.81M	23.53M	33.13M	47.66M	50.75M	60.07M	59.65M	58.88M	58.96M	58.3M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	43.95M	301.37M	109.61M	120.79M	120.54M	1.27B	204.95M	167.95M	153.72M	123.61M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	2.4B	4.42B	4.82B	6.54B	7.14B	8.98B	10.4B	11.65B	12.16B	12.03B
Investments Growth %	0.1%	0.84%	0.09%	0.36%	0.09%	0.26%	0.16%	0.12%	0.04%	-0.01%
Long-Term Investments	2.37B	4.4B	4.74B	6.44B	6.99B	8.8B	9.83B	11.2B	11.4B	11.21B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.82M	145.06M	150.5M	338.44M	374.63M	500.32M	500.32M	506.15M	506.15M	523.31M
Intangible Assets	256K	10.92M	8.88M	16.97M	15.61M	23.67M	18.21M	13.5M	9.51M	12.68M
PP&E (Net)	28.42M	71.39M	101.78M	111.21M	102.69M	107.09M	125.83M	126.7M	121.37M	115.26M
Other Assets	97.84M	171.26M	204.65M	304.75M	419.5M	526.03M	459.51M	591.95M	539.92M	566.36M
Total Current Assets	79.71M	334.14M	205.45M	241.2M	293.18M	1.49B	805.81M	670.3M	959.48M	997.03M
Total Non-Current Assets	2.51B	4.83B	5.21B	7.27B	7.95B	9.96B	10.93B	12.43B	12.58B	12.42B
Total Assets+	2.59B	5.17B	5.42B	7.52B	8.25B	11.45B	11.74B	13.1B	13.54B	13.42B
Asset Growth %	0.1%	0.99%	0.05%	0.39%	0.1%	0.39%	0.03%	0.12%	0.03%	-0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	422.76M	376.99M	424.88M	610.67M	687.8M	363.93M	349.81M	1.48B	1.05B	1.26B
Net Debt	378.81M	75.62M	315.26M	489.88M	567.26M	-908.21M	144.87M	1.31B	894.25M	1.14B
Long-Term Debt	346.88M	307.06M	345.21M	548.91M	616.06M	235.47M	229.14M	1.41B	973.4M	1.2B
Short-Term Debt	75.87M	69.94M	79.67M	61.76M	71.74M	128.45M	118.77M	69.1M	73.15M	60.57M
Other Liabilities	15.19M	30.27M	46.39M	51.55M	76.45M	172.64M	140.43M	365.63M	393.39M	392.55M
Total Current Liabilities	1.99B	4.26B	4.42B	5.88B	6.4B	9.56B	9.85B	9.74B	10.51B	10.13B
Total Non-Current Liabilities	362.07M	337.33M	391.6M	600.47M	692.51M	408.11M	371.48M	1.77B	1.37B	1.59B
Total Liabilities	2.35B	4.6B	4.81B	6.48B	7.09B	9.96B	10.22B	11.52B	11.88B	11.72B
Total Equity+	238.45M	572.04M	601.94M	1.04B	1.15B	1.48B	1.52B	1.59B	1.66B	1.7B
Equity Growth %	0.09%	1.4%	0.05%	0.73%	0.11%	0.29%	0.02%	0.05%	0.05%	0.02%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.06%	0.07%	0.09%	0.08%	0.05%	0.07%	0.09%	0.06%	0.06%
Book Value per Share	14.18	24.32	18.17	21.81	22.72	24.71	25.42	26.93	28.19	29.21
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	336K	336K	336K	483K	519K	609K	611K	612K	613K	613K
Additional Paid-in Capital	269.76M	364.43M	354.38M	757.96M	840.69M	1.14B	1.15B	1.15B	1.16B	1.17B
Retained Earnings	229.14M	238.19M	271.02M	305.06M	358.67M	378.27M	442.31M	540.51M	592.54M	641.73M
Accumulated OCI	-6.24M	-5.75M	-5.35M	-3.45M	-1.21M	621K	-2.82M	-35.98M	-20.86M	-15.85M
Treasury Stock	-251.5M	-22.55M	-15.97M	-10.84M	-36.9M	-25.65M	-61.71M	-69.11M	-69.11M	-90.62M
Preferred Stock	0	0	0	0	0	1K	1K	1K	1K	1K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	28.45M	33.42M	80.13M	92.55M	100.25M	132.66M	159.97M	250.45M	124.26M	92.24M
Operating CF Growth %	0.03%	0.17%	1.4%	0.15%	0.08%	0.32%	0.21%	0.57%	-0.5%	-0.26%
Net Income	20.32M	23.05M	42.47M	71.93M	88.57M	63.31M	110.08M	147.36M	104.03M	100.39M
Depreciation & Amortization	3.6M	5.57M	8.43M	12.62M	12.43M	14.73M	14.88M	16.48M	16.4M	14.54M
Deferred Taxes	1.47M	5.86M	35.44M	-4.57M	16.05M	-4.62M	3.61M	1.78M	3.15M	-337K
Other Non-Cash Items	4.32M	834K	6.87M	-4.2M	-508K	-21.83M	30.16M	-4.08M	15.37M	-17.52M
Working Capital Changes	-3.29M	-4.04M	-16.17M	12.12M	-21.74M	75.67M	-6.36M	79.78M	-22.61M	-12.03M
Cash from Investing+	-95.07M	271.7M	-455.22M	48.55M	-172.12M	-22.17M	-1.48B	-1.32B	-488M	106.4M
Purchase of Investments	-26.32M	-16.03M	-195.31M	-39.72M	-64.75M	-398.11M	-1.04B	-328.61M	-376.14M	-266.84M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	3.7M	48.69M	0	-3.74M	12.45M	23.46M	0	38.61M	0	-68.93M
Other Investing	-175.93M	57.91M	-325.83M	-87.32M	-311.63M	42.73M	-851.1M	-1.33B	-261.04M	115.28M
Cash from Financing+	74.57M	-47.7M	183.33M	-128.39M	82.77M	1.07B	223.99M	1.01B	349.47M	-228.75M
Dividends Paid	-8.69M	-12.62M	-19.29M	-29.56M	-34.24M	-42.92M	-44.51M	-47.51M	-51.27M	-50.88M
Share Repurchases	-6.46M	-1.88M	0	-10.84M	-26.07M	-14.81M	-36.06M	-7.4M	0	-21.48M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K
Other Financing	74.31M	137.03M	156.33M	-146.49M	63.98M	1.5B	321.86M	-57.72M	758.62M	-367.7M
Net Change in Cash+	7.83M	257.43M	-191.76M	12.71M	10.9M	1.19B	-1.09B	-56.8M	-14.27M	-30.1M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	36.12M	43.95M	301.37M	109.61M	122.33M	133.23M	1.32B	224.78M	167.99M	153.72M
Cash at End	43.95M	301.37M	109.61M	122.33M	133.23M	1.32B	224.78M	167.99M	153.72M	123.61M
Interest Paid	8.93M	13.2M	20.22M	36.45M	52.31M	66.45M	37.38M	49.7M	225.41M	320.26M
Income Taxes Paid	10.56M	10.91M	6.01M	2.32M	20.01M	5.74M	50.52M	25.38M	29.33M	33.79M
Free Cash Flow+	24.56M	26.75M	31.43M	81.06M	95.17M	117.93M	117.93M	229.55M	116.55M	84.68M
FCF Growth %	0.04%	0.09%	0.17%	1.58%	0.17%	0.24%	0%	0.95%	-0.49%	-0.27%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.9%	5.69%	7.24%	8.77%	8.08%	4.8%	7.34%	9.45%	6.41%	5.95%
Return on Assets (ROA)	0.82%	0.59%	0.8%	1.11%	1.12%	0.64%	0.95%	1.18%	0.78%	0.74%
Net Interest Margin	2.96%	2.33%	3.12%	3.2%	3.1%	2.73%	2.6%	2.88%	2.73%	2.49%
Efficiency Ratio	58.68%	66.34%	57.91%	59.27%	53.1%	52.26%	57.01%	47.38%	38.35%	35.1%
Equity / Assets	9.2%	11.07%	11.11%	13.83%	13.98%	12.96%	12.92%	12.1%	12.28%	12.69%
Book Value / Share	14.18	24.32	18.17	21.81	22.72	24.71	25.42	26.93	28.19	29.21
NII Growth	6.19%	56.53%	40.71%	42.13%	6.43%	22.26%	-2.43%	23.63%	-2.05%	-9.65%
Dividend Payout	42.78%	54.74%	45.41%	41.1%	38.66%	67.79%	40.44%	32.41%	49.29%	50.85%

Revenue by Segment

	2018	2019	2020	2021	2022	2024
Deposit Account	19.46M	18.5M	15.81M	13.83M	22.8M	21.79M
Deposit Account Growth	-	-4.94%	-14.55%	-12.49%	64.84%	-4.43%
Investment Advisory, Management and Administrative Service	2.25M	2.1M	2.05M	2.34M	2.39M	1.75M
Investment Advisory, Management and Administrative Service Growth	-	-6.37%	-2.38%	13.84%	2.14%	-26.87%

Frequently Asked Questions

Valuation & Price

OceanFirst Financial Corp. (OCFC) has a price-to-earnings (P/E) ratio of 11.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

OceanFirst Financial Corp. (OCFC) grew revenue by 8.0% over the past year. This is steady growth.

Yes, OceanFirst Financial Corp. (OCFC) is profitable, generating $79.8M in net income for fiscal year 2024 (14.5% net margin).

Dividend & Returns

Yes, OceanFirst Financial Corp. (OCFC) pays a dividend with a yield of 4.74%. This makes it attractive for income-focused investors.

OceanFirst Financial Corp. (OCFC) has a return on equity (ROE) of 5.9%. This is below average, suggesting room for improvement.

Industry Metrics

OceanFirst Financial Corp. (OCFC) has a net interest margin (NIM) of 2.5%. NIM has been under pressure due to interest rate environment.

OceanFirst Financial Corp. (OCFC) has an efficiency ratio of 35.1%. This is excellent, indicating strong cost control.

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