Profile
Sector:
Financial ServicesIndustry:
Banks - RegionalCountry:
United StatesIPO:
03 July 1996Website:
http://www.oceanfirst.comNext earnings report:
17 January 2025Last dividends:
05 August 2024Next dividends:
04 November 2024Price
after hours | Fri, 01 Nov 2024 20:46:53 GMTAnalysts recommendations
Institutional Ownership
Included in screeners
OCFC Latest News
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q3 2024 Earnings Conference Call October 18, 2024 11:00 AM ET Company Participants Alfred Goon - Senior Vice President, Corporate Development and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel - President and Chief Operating Officer Patrick Barrett - Executive Vice President and Chief Financial Officer Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Tim Switzer - KBW David Bishop - Hovde Matthew Breese - Stephens Manuel Navas - D.A. Davidson Christopher Marinac - JMS Operator Good morning, and thank you all for attending the OceanFirst Financial Corp. Third Quarter '24 Earnings Release Conference Call.
OceanFirst Financial Corp.'s attractive 5% dividend yield is tempting, but concerns about its commercial real estate loan portfolio make it risky. Q3 earnings were mixed: deposits and loans dipped, but loan loss provisions and book value improved. Asset quality metrics were mixed; net charge-offs increased, and non-performing loans rose, but the efficiency ratio improved.
Although the revenue and EPS for OceanFirst (OCFC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.32 per share a year ago.
RED BANK, N.J., Oct. 17, 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 $24.1 million, or $0.42 per diluted share, for the three months ended September 30, 2024, an increase from $19.7 million, or $0.33 per diluted share, for the corresponding prior year period, and $23.4 million, or $0.40 per diluted share, for the prior linked quarter. For the nine months ended September 30, 2024, the Company reported net income available to common stockholders of $75.1 million, or $1.29 per diluted share, an increase from $73.3 million, or $1.24 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 (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.
700+ OceanFirst Bank Employees Volunteer 3,000 Hours at Nonprofit Organizations in Four States 700+ OceanFirst Bank Employees Volunteer 3,000 Hours at Nonprofit Organizations in Four States
RED BANK, N.J., Sept. 23, 2024 (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, 2024 on Thursday, October 17, 2024 after market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, October 18, 2024 to discuss highlights of the Company's quarterly operating performance.
The headline numbers for OceanFirst (OCFC) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.46 per share a year ago.
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What type of business is OceanFirst Financial?
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers. The company also offers commercial real estate, multi-family, land loans, construction, and commercial and industrial loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; and consumer loans, such as home equity loans and lines of credit, student loans, overdraft line of credit, loans on savings accounts, and other consumer loans. In addition, it invests in mortgage-backed securities, securities issued by the U.S. Government and agencies, corporate securities, and other investments. Further, the company offers bankcard, trust and asset management services; and bank owned life insurance products. The company was founded in 1902 and is based in Red Bank, New Jersey.
What sector is OceanFirst Financial in?
OceanFirst Financial is in the Financial Services sector
What industry is OceanFirst Financial in?
OceanFirst Financial is in the Banks - Regional industry
What country is OceanFirst Financial from?
OceanFirst Financial is headquartered in United States
When did OceanFirst Financial go public?
OceanFirst Financial initial public offering (IPO) was on 03 July 1996
What is OceanFirst Financial website?
https://www.oceanfirst.com
Is OceanFirst Financial in the S&P 500?
No, OceanFirst Financial is not included in the S&P 500 index
Is OceanFirst Financial in the NASDAQ 100?
No, OceanFirst Financial is not included in the NASDAQ 100 index
Is OceanFirst Financial in the Dow Jones?
No, OceanFirst Financial is not included in the Dow Jones index
When was OceanFirst Financial the previous earnings report?
No data
When does OceanFirst Financial earnings report?
The next expected earnings date for OceanFirst Financial is 17 January 2025