Neosiam/iStock via Getty Images Introduction As it has been six months since my last article on OceanFirst Financial (NASDAQ:OCFC) was published, I figured this was a good moment to have another look at the preferred shares which are trading with (NASDAQ:OCFCP) as ticker symbol as another two quarters have passed. The smaller balance sheet and substantially higher CET1 ratio makes the bank (and its preferred shares) safer and although the earnings are relatively weak, I expect the net interest margin to imp ...

Table of Contents Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐. Indicate by check mark whether the registrant has submitted electronically ev ...

OceanFirst Financial Corp. (NASDAQ:OCFC) Q2 2024 Earnings Conference Call July 19, 2024 11:00 AM ET Company Participants Alfred Goon - IR Christopher Maher - Chairman and CEO Joe Lebel - President Pat Barrett - CFO Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Tim Switzer - KBW David Bishop - Hovde Group Manuel Navas - D.A. Davidson Matthew Breese - Stephens Christopher Marinac - Janney Montgomery Scott Operator Good morning, all, and thank you for attending the ...

The reported revenue compares to the Zacks Consensus Estimate of $94.93 million, representing a surprise of -1.78%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.42. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Efficiency Ratio: 62.9% versus 62% estimated by three analysts on average. Net Interest Margin: 2.7% vers ...

This quarterly report represents an earnings surprise of -7.14%. A quarter ago, it was expected that this holding company for OceanFirst Bank would post earnings of $0.42 per share when it actually produced earnings of $0.44, delivering a surprise of 4.76%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While OceanFirst has underperformed the market so far t ...

Press Release Exhibit 99.1 Company Contact: Patrick S. Barrett Chief Financial Officer OceanFirst Financial Corp. Tel: (732) 240-4500, ext. 27507 Email: pbarrett@oceanfirst.com FOR IMMEDIATE RELEASE OCEANFIRST FINANCIAL CORP. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS RED BANK, NEW JERSEY, July 18, 2024 - 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 $23.4 million, or $0.40 per dil ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------|-----------------|-------|------------------------------------------------|-------|-----------------|-------|-----------------|-------|---------------------------------------------|-------| | Performance Ratios (Annualized): | June 30, \n2024 | | For the Three Months Ended, \nMarch 31, \n2024 | | June 30, \n2023 | \n | June 30, \n2024 | | For the Six Months Ended, \nJune 30, \n2023 | | ...

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. Revenues are expected to be $94.93 million, down 6.1% from the year-ago quarter. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. The Zacks Earnings ESP compares the ...

RED BANK, N.J., June 24, 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 June 30, 2024 on Thursday, July 18, 2024 after market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, July 19, 2024 to discuss highlights of the Company's quarterly operating performance. OceanFirst Financial Corp.'s press releases are available at http:// ...

The conference call will also be available (listen-only) by accessing the Company's Web address: www.oceanfirst.com – Investor Relations. Web users should go to the site at least fifteen minutes prior to the call to register, download, and install any necessary audio software. The webcast will be available for at least 30 days. In addition to historical information, this news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which ...