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OceanFirst Financial (OCFC) Misses Q2 Earnings and Revenue Estimates
ZACKS· 2025-07-24 22:41
Core Viewpoint - OceanFirst Financial reported quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.33 per share, and down from $0.39 per share a year ago, indicating a -6.06% earnings surprise [1][2] Financial Performance - The company posted revenues of $99.37 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 1.52%, compared to $93.25 million in the same quarter last year [2] - Over the last four quarters, OceanFirst has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - OceanFirst shares have increased by about 0.8% since the beginning of the year, underperforming the S&P 500's gain of 8.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] Estimate Revisions and Rankings - Prior to the earnings release, the estimate revisions trend for OceanFirst was unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $104.05 million, and for the current fiscal year, it is $1.46 on revenues of $409.15 million [7] Industry Context - The Financial - Savings and Loan industry, to which OceanFirst belongs, is currently in the bottom 26% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]