OceanFirst Financial Corp Announces 2025 Stock Repurchase Program

By Hao Liu • Thursday, July 17 15:33 • Permanent Link

OceanFirst Financial Corp. (NASDAQ: OCFC) has announced a 2025 stock repurchase program, authorizing the repurchase of up to 3 million shares, approximately 5% of its outstanding common stock. This new authorization is in addition to the existing 2021 stock repurchase program.

Christopher D. Maher, the Chairman and CEO of OceanFirst Financial Corp., stated that the repurchase program reflects the company's confidence in the investment potential of its shares, providing flexibility in capital deployment. The program aims to enable the company to respond opportunistically to market conditions while retaining the capacity to invest in organic growth, strategic initiatives, and shareholder returns.

The company's proactive approach to enhancing shareholder value is evident in its commitment to repurchasing shares, signaling a strategic focus on optimizing capital allocation and leveraging opportunities in the market. The market has reacted to these announcements by moving the company's shares 3.28% to a price of $18.89. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.