OceanFirst Financial

OceanFirst Financial Corp. operates as a savings and loan holding company, which engages in the provision of financial services. Its subsidiary OceanFirst Bank, offers commercial and residential financing solutions, wealth management, and deposit services. It has retail branches throughout the state and in metropolitan New York City along with loan production offices in New Jersey, New York City and Pennsylvania. The company is headquartered in Red Bank, NJ.

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Earnings data Q4 2024

OceanFirst Financial reports robust Q4 earnings, eyes growth opportunities

OceanFirst Financial delivered strong financial performance in Q4 2022, exceeding targets and focusing on maintaining growth while managing risks.
The company's conservative capital management and credit discipline provide a solid foundation for future opportunities and margin protection.
Challenges include deposit cost pressures and market selectivity, but opportunities in loan growth and revenue generation are being pursued strategically.
Overall, OceanFirst Financial is well-positioned to navigate economic changes, capitalize on growth prospects, and deliver value to shareholders.

OceanFirst Financial reports solid Q1 earnings amidst banking challenges

OceanFirst Financial's Q1 2023 performance reflects solid core earnings growth, disciplined investment management, and a commitment to efficiency and conservative banking practices.
Despite challenges related to margin compression and economic uncertainties, the company's strong liquidity position, diversified deposit portfolio, and risk-based approach provide a foundation for future growth.
Opportunities lie in expanding treasury products and mortgage banking, maintaining a focus on growth while managing capital deployment cautiously, and leveraging stress test results for strategic decision-making.
With a focus on navigating challenges with a conservative approach and capitalizing on growth opportunities, OceanFirst Financial aims to drive returns and enhance shareholder value in the banking sector.

OceanFirst Financial reports strong Q2 earnings, eyes loan growth opportunities

OceanFirst Financial's Q2 performance reflects solid earnings and deposit growth amidst credit discipline.
The company's strengths lie in effective liquidity management and improved loan origination yields.
Challenges include margin pressure from funding costs and regulatory compliance in real estate concentration.
Opportunities exist for increased loan growth and margin improvement through strategic initiatives.

OceanFirst Financial reports solid Q3 earnings amidst market challenges

OceanFirst Financial's Q3 performance reflects solid earnings and capital strength, despite challenges in margins and market dynamics.
The company's focus on credit quality, customer relationships, and strategic growth initiatives positions it well for future opportunities.
Addressing challenges like margin compression and economic uncertainties while capitalizing on growth opportunities will be crucial for OceanFirst Financial's success.

OceanFirst Financial reports solid Q4 earnings, eyes organic growth

OceanFirst Financial delivered solid Q4 2023 results with stable earnings and strong capital levels. The company's focus on deposit quality and organic growth positions it well for sustainable expansion.
Challenges include margin pressures and managing loan growth expectations amid market uncertainties. Opportunities lie in potential margin expansion, strategic initiatives, and enhancing asset valuation accuracy.
Overall, OceanFirst Financial's performance reflects resilience and a strategic focus on long-term growth. By prioritizing organic growth and maintaining strong asset quality, the company aims to navigate challenges and seize opportunities for expansion.

OceanFirst Financial reports stable Q1 performance amidst growth opportunities

OceanFirst Financial's Q1 performance reflects stability in earnings, expenses, and loan quality. The bank's focus on talent acquisition and operational efficiency bodes well for future growth.
Despite challenges such as potential runoff of high-yield savings and criticism of loan categories, opportunities in loan demand drivers and expense management strategies offer avenues for improvement.
Maintaining a strong loan portfolio, positive customer sentiment, and strategic partnerships position OceanFirst Financial for continued success amidst evolving market conditions.

OceanFirst Financial reports robust Q2 earnings and strategic growth focus

OceanFirst Financial's Q2 2024 performance reflects solid earnings, strong asset quality, and improved capital levels, underlining financial stability and growth potential.
Strategic efforts towards C&I lending and shareholder value enhancement through share repurchases and dividends showcase a proactive approach to value creation.
While facing challenges in loan balances and cost management, the company's focus on organic growth and capital maintenance aligns with long-term sustainability and profitability goals.

OceanFirst Financial reports steady Q3 earnings amidst growth opportunities

OceanFirst Financial Corp. demonstrated steady profitability and revenue growth in Q3 2024, supported by strategic loan originations.
While facing challenges such as increased operating expenses and modest deposit growth, the company maintained strong asset quality and capital levels.
Opportunities lie in expanding the loan portfolio, attracting investors through dividends, and leveraging strengthened capital for growth initiatives.

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OceanFirst Financial Corp. (OCFC) Q4 2023 Earnings Call Transcript

While the top- and bottom-line numbers for OceanFirst (OCFC) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

OceanFirst (OCFC) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

OceanFirst Financial (OCFC) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.67 per share a year ago.

OceanFirst Financial (OCFC) Q4 Earnings and Revenues Top Estimates

RED BANK, N.J., Jan. 18, 2024 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:“OCFC”) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), announced net income available to common stockholders of $26.7 million, or $0.46 per diluted share, for the quarter ended December 31, 2023, as compared to $52.3 million, or $0.89 per diluted share, for the corresponding prior year period, and $19.7 million, or $0.33 per diluted share, for the prior linked quarter. For the year ended December 31, 2023, the Company reported net income available to common stockholders of $100.0 million, or $1.70 per diluted share, as compared to $142.6 million, or $2.42 per diluted share, for the prior year. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):

OceanFirst Financial Corp. Announces Quarterly and Annual Earnings and Financial Results

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is OceanFirst Financial (OCFC) Stock Undervalued Right Now?

OceanFirst Financial Corp. (OCFC) Q3 2023 Earnings Call Transcript

OceanFirst Financial (OCFC) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.60 per share a year ago.

OceanFirst Financial (OCFC) Q3 Earnings and Revenues Lag Estimates

OceanFirst (OCFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: OceanFirst Financial (OCFC) Q3 Earnings Expected to Decline

RED BANK, N.J., Sept. 22, 2023 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended September 30, 2023 on Thursday, October 19, 2023 after the market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, October 20, 2023 to discuss highlights of the Company's third quarter operating performance.

OceanFirst Financial Corp. Schedules Earnings Conference Call

RED BANK, N.J., Sept. 19, 2023 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), today announced the appointment of three members to its Board of Directors.

OceanFirst Financial Corp. Enhances Board and Announces Chief Risk Officer Transition

OceanFirst Financial's Q2 results showed stable performance, with a slight decrease in net interest income and higher non-interest expenses. The bank's loan portfolio is robust, with a low amount of past due and non-accruing loans. The preferred shares offer a 7.41% yield and may be called in 2025.

OceanFirst Financial: A 10.5% Yield To Call On The Preferred Shares

OceanFirst Financial Corp. (NASDAQ:OCFC ) Q2 2023 Earnings Conference Call July 21, 2023 11:00 AM ET Company Participants Alfred Goon - Corporate Development and IR Christopher Maher - Chairman and CEO Joe Lebel - President Pat Barrett - CFO Conference Call Participants Daniel Tamayo - Raymond James David Bishop - Hovde Group Matthew Breese - Stephens Inc. Christopher Marinac - Janney Montgomery Scott Manuel Navas - D.A. Davidson Frank Schiraldi - Piper Sandler Michael Perito - KWB Operator Ladies and gentlemen, welcome to the OceanFirst Financial Corporation Second Quarter 2023 Earnings Release.

OceanFirst Financial Corp. (OCFC) Q2 2023 Earnings Call Transcript

RED BANK, N.J., July 20, 2023 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), announced net income available to common stockholders of $26.8 million, or $0.45 per diluted share, for the three months ended June 30, 2023, as compared to $28.0 million, or $0.47 per diluted share, for the corresponding prior year period, and $26.9 million, or $0.46 per diluted share, for the prior linked quarter. For the six months ended June 30, 2023, the Company reported net income available to common stockholders of $53.7 million, or $0.91 per diluted share, as compared to $52.7 million, or $0.89 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):

Oceanfirst Financial Corp. Announces Second Quarter Financial Results

OceanFirst Financial focuses on New Jersey, New York, Pennsylvania, and Delaware. The net interest income remains robust but obviously shows a QoQ decline.

OceanFirst Financial: The Preferred Shares Offer A 14% Yield-To-(Likely) Call

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does OceanFirst Financial (OCFC) have what it takes?

Why OceanFirst Financial (OCFC) is a Great Dividend Stock Right Now

OceanFirst Financial Corp. (OCFC) Q1 2023 Earnings Call Transcript.

OceanFirst Financial Corp. (OCFC) Q1 2023 Earnings Call Transcript

OceanFirst Financial (OCFC) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.49 per share a year ago.

OceanFirst Financial (OCFC) Q1 Earnings and Revenues Lag Estimates

RED BANK, N.J., April 20, 2023 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), announced net income available to common stockholders of $26.9 million, or $0.46 per diluted share, for the quarter ended March 31, 2023, as compared to $24.8 million, or $0.42 per diluted share, for the corresponding prior year period, and $52.3 million, or $0.89 per diluted share, for the prior linked quarter. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):

OceanFirst Financial Corp. Announces First Quarter Financial Results

RED BANK, N.J., April 18, 2023 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:“OCFC”), (the “Company”), announced that its Board of Directors has declared a quarterly cash dividend of $0.4375 per share for every depositary share, representing 1/40th interest in the Series A Preferred Stock, payable on May 15, 2023 to stockholders of record on April 28, 2023.

OceanFirst Financial Corp. Declares Quarterly Cash Dividend for Series A Preferred Stock

RED BANK, N.J., March 20, 2023 (GLOBE NEWSWIRE) -- OceanFirst Bank (“OceanFirst”), the wholly owned subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), announces the appointment of Stephen Adamo as President of Residential and Consumer Lending.

OceanFirst Bank Announces Appointment of Stephen Adamo, President of Residential and Consumer Lending

OceanFirst (OCFC) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

OceanFirst (OCFC) Soars 7.4%: Is Further Upside Left in the Stock?

Why OceanFirst Financial (OCFC) is a Top Dividend Stock for Your Portfolio

OceanFirst Financial (OCFC) is a Top Dividend Stock Right Now: Should You Buy?

OceanFirst Financial (OCFC) Could Be a Great Choice

OceanFirst Financial Corp. (NASDAQ:OCFC ) Q4 2022 Earnings Conference Call January 20, 2023 11:00 AM ET Company Participants Jill Hewitt - SVP and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joe Lebel - President and Chief Operating Officer Pat Barrett - Executive Vice President and Chief Financial Officer Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Michael Perito - KBW David Bishop - Hovde Group Christopher Marinac - Janney Montgomery Scott Manuel Navas - DA Davidson Matthew Breese - Stephens Inc. Operator Hello everyone, and welcome to the OceanFirst Financial Corp. Earnings Conference Call. My name is Daisy, and I will be coordinating your call today.

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