OceanFirst CIO Sells Shares in Routine Transaction
On August 31, 2026, Brian Schaeffer, Senior Executive Vice President and Chief Investment Officer of OceanFirst Bank, sold 5,500 shares of OceanFirst Financial (OCFC) at $18.91 per share for a total transaction value of approximately $104,005. The sale was disclosed in an SEC Form 4 filing and is part of Schaeffer's broader holdings that include both directly and indirectly held shares totaling 86,539 as of the post-transaction date. Following the sale, his remaining equity position has a market value of approximately $1.6 million based on OceanFirst Financial’s closing price of $18.84 per share on August 31, 2026. The transaction does not appear to signal any significant change in confidence from insiders or management, as Schaeffer still holds over 83,000 shares directly and nearly 3,500 indirectly. Analysts remain generally optimistic about OceanFirst Financial’s future despite the stock's modest performance historically. With a median price target of $22 for the next twelve months—representing potential gains between 10.8% to 26.7% from current levels—the company continues to be viewed as having growth opportunities, especially following its recent merger with Flushing Financial.
Tickers: $OCFC