Key Points
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The transaction size equaled 6% of the equity stake held by the insider before the filing.
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The sale involved direct ownership only, while 3,471 shares continue to be held indirectly.
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Brian Schaeffer, SEVP & CIO of OceanFirst Bank, sold 5,500 shares of OceanFirst Financial (NASDAQ:OCFC) on Aug. 31, 2026, according to a recent SEC Form 4 filing.
Transaction summary
Transaction value based on SEC Form 4 weighted average sale price ($18.91); post-transaction value based on Aug. 31, 2026, market close ($18.84).
Key questions
- What is the current composition of the remaining equity?
The reported holdings include restricted common stock awards that have not yet vested and reflect recent increases in beneficial ownership through acquisitions exempt under Rule 16b-3(c). - What is the total market value of the insider position?
Based on the Aug. 31, 2026, market close price of $18.84, the combined direct and indirect holding of 86,539 shares is valued at $1.6 million. - What is the broader context of insider ownership at the company?
Insiders of the bank holding company collectively control 0.1% of the outstanding common stock as of the latest filings.
Company Overview
Company Snapshot
- OceanFirst Financial generates revenue through a diversified portfolio of deposit products, including money market accounts, savings accounts, interest-bearing checking accounts, and time deposits, as well as commercial real estate, multifamily, land, construction, and commercial and industrial lending services.
- The company operates as a community bank holding company that generates income through net interest margins on its loan portfolio and deposit base, as well as fee-based services and investment activities across its retail and commercial banking operations.
- OceanFirst Financial serves retail and commercial customers throughout the United States, with a particular focus on community banking relationships and localized market presence in its core operating regions.
OceanFirst Financial is a regional bank holding company with approximately $1.8 billion in market capitalization, approximately 900 employees, and TTM revenues of $427.6 million. The company maintains a diversified community banking model focused on deposit gathering and commercial lending, positioning itself as a regional competitor in the fragmented U.S. banking sector, with demonstrated operational scale and profitability, as reflected in TTM net income of $47.9 million.
What this transaction means for investors
The OceanFirst stock price has largely been flat over the past 12 months, climbing just 3.6%. But given that the stock price is down 7.1% over the past five years, this isn't a stock known for price appreciation. With that context in mind, this sale by Schaeffer largely appears routine, as he isn't selling into strength or during a downward trend.
On Aug. 31, the insider sold 5,500 shares, valued at approximately $104,000. But given that the insider still directly holds more than 83,000 shares and nearly 3,500 shares indirectly, this doesn't appear to ring any alarm bells for shareholders. And despite this not being a stock known for price appreciation, analysts still appear bullish for what's ahead for OceanFirst. That's because of the seven analysts who cover the stock, the median price target over the next 12 months is $22, according to CNN. At the price of $18.94 as of this writing, the $22 price target represents a potential gain of 16.1%. The highest price target in the group, $24, represents a 26.7% gain, while the lowest, $21, still represents a 10.8% gain. In June, OceanFirst completed a merger with Flushing Financial, expanding the company's footprint to 71 branches.
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Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.