OceanFirst Financial Corp. (OCFC)’s COO Buys 10,000 Shares

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Christopher Maher, President and Chief Operating Officer at OceanFirst Financial Corp. (NASDAQ:OCFC), closed an acquisition of 10,000 shares yesterday. The purchased was executed directly, and over two days, starting on Tuesday, when the insider bought 5,000 shares of Common Stock for an average price of $16.15 per share. The transaction was then completed yesterday by purchasing another 5,000 shares for $16.17 per share. Following the COO’s first stock purchase of the fiscal year so far, he now owns a total of 17,566 company shares.

However, apart from Maher’s acquisition, stock trading at the $273.8 million market cap commercial bank has been stagnant. The only other insider to buy the company’s stock this year was Joseph Lebel, who acquired 1,812 shares of Common Stock in June, paying a price of $16.56 per share.

Nevertheless, hedge funds seem to remain confident regarding the firm’s profitability. Matthew Lindenbaum’s hedge fund, Basswood Capital, for example, increased the firms portfolio activity by 4% and now owns 972,883 company shares, with an estimated value of $17.2 million.

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