Profit Fan

While The Market Falls, OceanFirst Continues To Add Value

Headquartered in Toms River, New Jersey, OceanFirst Financial Corp. (NASDAQ:OCFC) is a high-quality bank that recently announced a ~$208 million merger agreement with Cape Bancorp (NASDAQ:CBNJ). This is a material addition for OceanFirst, but it's also an interesting one because both banks have been aggressively adding branches to capture market share while at the same time buying back shares. The combination is in line with OceanFirst's desire to expand commercial lending, and it will help both companies grow in their saturated markets. OCFC is a strong, resilient bank, and shares are more attractive after the recent pullback, but does that make OCFC a buy?

OCFC data by YCharts

Waiting For The Right Time To Grow


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