OCFC Stock Summary and Trading Ideas (Oceanfirst Financial Corp. | NASDAQ:OCFC)

OceanFirst Financial Corp is engaged in the banking sector of the United States. It conducts the business of attracting retail and business deposits and investing them in loans, consisting of single-family, owner-occupied residential mortgage loans, and commercial real estate loans. The company's sole segment deals with the delivery of loan and deposit products to customers. The bank's revenues are derived principally from interest on its loans, and to a lesser extent, interest on its investment and mortgage-backed securities. The rest of its income is dependent on bank card services and wealth management services.

Oceanfirst Financial Corp. trades on the NASDAQ stock market under the symbol OCFC.

As of April 19, 2024, OCFC stock price climbed to $15.18 with 336,666 million shares trading.

OCFC has a beta of 1.83, meaning it tends to be more sensitive to market movements. OCFC has a correlation of 0.31 to the broad based SPY ETF.

OCFC has a market cap of $894.91 million. This is considered a Small Cap stock.

Last quarter Oceanfirst Financial Corp. reported $86 million in Revenue and $.44 earnings per share. This fell short of revenue expectation by $-1 million and exceeded earnings estimates by $.03.

In the last 3 years, OCFC stock traded as high as $24.93 and as low as $12.01.

The top ETF exchange traded funds that OCFC belongs to (by Net Assets): VTI, IWM, VXF, AVUV, IWN.

OCFC has underperformed the market in the last year with a return of -9.9%, while the SPY ETF gained +21.2%. In the last 3 month period, OCFC fell short of the market, returning -12.6%, while SPY returned +3.0%. However, in the most recent 2 weeks OCFC has outperformed the stock market by returning -1.7%, while SPY returned -4.5%.

OCFC support price is $14.18 and resistance is $15.00 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OCFC stock will trade within this expected range on the day.