OceanFirst Financial director Nicos Katsoulis buys $178,277 in stock

OCEANFIRST FINANCIAL CORP (NASDAQ:OCFC) Director Nicos Katsoulis acquired 10,000 shares of the company's common stock on October 30, 2026. The purchase totaled $178,277, with shares bought at prices ranging from $17.8196 to $17.83. The weighted average price for these trades was $17.8277. OceanFirst Financial is currently trading at $18.13, with a P/E ratio of 38.8.

Pro analysis suggests the company may be overvalued at present. Following this stock purchase, Mr. Katsoulis now directly owns 41,096 shares of OceanFirst Financial common stock, including restricted shares that have not yet vested. His spouse indirectly holds an additional 3,022 shares. The company offers a dividend yield of 4.41% and has consistently paid dividends for 30 years, according to InvestingPro.

OceanFirst Financial reported stronger-than-expected Q3 2026 earnings, with core earnings per share of $0.48 exceeding analyst expectations of $0.40. Revenue reached $185.13 million, surpassing forecasts of $177.79 million. This growth was driven by contributions from the Flushing Financial acquisition, higher net interest income, and lower operating expenses.

Net interest income increased by 43% to $172 million, while core operating expenses were $114 million, below the expected range of $120 million to $125 million. The company successfully integrated and rebranded Flushing's 30 branches. Management reaffirmed 2027 profitability targets, including a 1% return on average assets.