OceanFirst (OCFC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

Core Insights - OceanFirst Financial (OCFC) reported $96.9 million in revenue for Q3 2024, a year-over-year decline of 4.8%, with an EPS of $0.39 compared to $0.32 a year ago, exceeding the Zacks Consensus Estimate of $92.79 million by 4.43% and delivering an EPS surprise of 2.63% [1] Financial Performance Metrics - Efficiency Ratio stood at 65.8%, higher than the average estimate of 63.7% from three analysts [2] - Net Interest Margin was reported at 2.7%, matching the average estimate of 2.7% from three analysts [2] - Average Balance of Total Interest-Earning Assets was $12.23 billion, slightly above the estimated $12.19 billion from two analysts [2] - Total Non-Interest Income reached $14.68 million, significantly exceeding the average estimate of $9.94 million from three analysts [2] - Net Interest Income was $82.22 million, slightly below the average estimate of $82.89 million from three analysts [2] - Bankcard Services Revenue was $1.62 million, below the average estimate of $1.80 million from two analysts [2] - Fees and Service Charges amounted to $6.10 million, surpassing the average estimate of $5.01 million from two analysts [2] - Income from Bank Owned Life Insurance was $1.78 million, slightly below the average estimate of $1.88 million from two analysts [2] Stock Performance - OceanFirst shares have returned +5.7% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change, with a current Zacks Rank of 3 (Hold) indicating potential performance in line with the broader market [3]