OceanFirst Financial traded at $19.77 this Friday August 14th, increasing $0.29 or 1.49 percent since the previous trading session. Looking back, over the last four weeks, OceanFirst Financial gained 1.23 percent. Over the last 12 months, its price rose by 15.41 percent. Looking ahead, we forecast OceanFirst Financial to be priced at 19.34 by the end of this quarter and at 18.12 in one year, according to Trading Economics global macro models projections and analysts expectations.
OceanFirst Financial Corp. is a holding company for OceanFirst Bank (the Bank). The Company is a bank holding company. The Bank’s principal business is attracting retail and commercial deposits and investing those deposits primarily in loans, consisting of commercial real estate, and other commercial loans, and single-family, owner-occupied residential mortgage loans. The Bank also invests in other types of loans, including residential construction and consumer loans. In addition, the Bank invests in mortgage-backed securities (MBS), securities issued by the United States Government and agencies thereof, corporate securities and other investments. The Bank’s primary sources of funds are deposits, principal and interest payments on loans and mortgage-backed securities, investment security maturities, Federal Home Loan Bank (FHLB) advances and other borrowings. The Bank originates home equity loans typically as fixed-rate loans.