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.

Earnings data Q1 2021

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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 (OCFC) delivered earnings and revenue surprises of 6.35% and 21.03%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

OceanFirst Financial (OCFC) Q4 Earnings and Revenues Beat Estimates

RED BANK, N.J., Jan. 19, 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 $52.3 million, or $0.89 per diluted share, for the quarter ended December 31, 2022, as compared to $37.6 million, or $0.64 per diluted share, for the prior linked quarter, and $21.7 million, or $0.37 per diluted share, for the corresponding prior year period. For the year ended December 31, 2022, the Company reported net income available to common stockholders of $142.6 million, or $2.42 per diluted share, as compared to $106.1 million, or $1.78 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 Record Quarterly and Annual Earnings and Financial Results

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.

OceanFirst Financial (OCFC) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

OceanFirst is a NJ-based bank with exposure to NJ, NY, and PA commercial real estate. Despite the focus on CRE, the loan losses remain very limited thanks to the bank's focus on quality.

OceanFirst Financial: Trading At 1.25x TBV, Offers A 3.8% Yield

RED BANK, N.J. and SALISBURY, Md., Nov. 09, 2022 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC) (“OceanFirst”), the holding company for OceanFirst Bank N.A., and Partners Bancorp (NASDAQ: PTRS) (“Partners”), the parent company of The Bank of Delmarva (and its division, Liberty Bell Bank) headquartered in Seaford, Delaware, and Virginia Partners Bank (and its division, Maryland Partners Bank) headquartered in Fredericksburg, Virginia, jointly announced today they have agreed to terminate the merger agreement announced on November 4, 2021, effective immediately.

OceanFirst Financial Corp. and Partners Bancorp Announce Mutual Termination of Merger Agreement

OceanFirst Financial Corp. (NASDAQ:OCFC ) Q3 2022 Earnings Conference Call October 25, 2022 11:00 AM ET Corporate 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 Michael Perito - KBW David Bishop - Hovde Group Matthew Breese - Stephens Inc. Manuel Navas - DA Davidson Gerry Heffernan - Walthausen Operator Good morning and thank you for attending today's OceanFirst Financial Corp. Earnings Conference Call. My name is Camilla, and I'll be your moderator for today's.

OceanFirst Financial Corp. (OCFC) Q3 2022 Earnings Call Transcript

OceanFirst (OCFC) delivered earnings and revenue surprises of 7.14% and 0.83%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

OceanFirst Financial (OCFC) Q3 Earnings and Revenues Surpass Estimates

The consensus price target hints at a 30.6% upside potential for OceanFirst (OCFC). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Does OceanFirst (OCFC) Have the Potential to Rally 31% as Wall Street Analysts Expect?

The mean of analysts' price targets for OceanFirst (OCFC) points to a 28.3% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Does OceanFirst (OCFC) Have the Potential to Rally 28% as Wall Street Analysts Expect?

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?

This is Why OceanFirst Financial (OCFC) is a Great Dividend Stock

The consensus price target hints at a 29.3% upside potential for OceanFirst (OCFC). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

How Much Upside is Left in OceanFirst (OCFC)? Wall Street Analysts Think 29%

OceanFirst Financial Corp. (NASDAQ:OCFC ) Q2 2022 Earnings Conference Call July 29, 2022 11:00 AM ET Company Participants Jill Hewitt - SVP & IR Christopher Maher - Chairman & CEO Joseph Lebel - President & COO Conference Call Participants Michael Perito - KBW David Bishop - Hovde Group Matthew Breese - Stephens Inc. Manuel Navas - D.A. Davidson Operator Good morning.

OceanFirst Financial Corp. (OCFC) CEO Christopher Maher on Q2 2022 Results - Earnings Call Transcript

OceanFirst (OCFC) delivered earnings and revenue surprises of 9.26% and 0.16%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

OceanFirst Financial (OCFC) Q2 Earnings Top Estimates

OceanFirst (OCFC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes OceanFirst (OCFC) a New Strong Buy Stock

The mean of analysts' price targets for OceanFirst (OCFC) points to a 35.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Can OceanFirst (OCFC) Climb 36% to Reach the Level Wall Street Analysts Expect?

The average of price targets set by Wall Street analysts indicates a potential upside of 32.2% in OceanFirst (OCFC). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

How Much Upside is Left in OceanFirst (OCFC)? Wall Street Analysts Think 32%

The consensus price target hints at a 37.4% upside potential for OceanFirst (OCFC). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

How Much Upside is Left in OceanFirst (OCFC)? Wall Street Analysts Think 37%

RED BANK, N.J., May 24, 2022 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), today announced that the Bank has published its first-ever Environmental, Social and Governance (“ESG”) Report. The ESG Report highlights the Bank's policies, practices and recent initiatives across a range of areas, including equitable access to capital; diversity, equity and inclusion; employee health and wellness; support for the community; environmental priorities; corporate governance; and other vital matters. The ESG Report is accessible by visiting the Investor Relations section of oceanfirst.com.

OceanFirst Bank Publishes First ESG Report

The consensus price target hints at a 36.5% upside potential for OceanFirst (OCFC). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Believe OceanFirst (OCFC) Could Rally 37%: Here's is How to Trade

OceanFirst Financial Corp. (NASDAQ:OCFC ) Q1 2022 Earnings Conference Call April 29, 2022 11:00 AM ET Company Participants Jill Hewitt - Senior Vice President and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel - President and Chief Operating Officer Michael Fitzpatrick - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Perito - Keefe, Bruyette, & Woods, Inc. David Bishop - Hovde Group, LLC William Wallace - Raymond James & Associates, Inc. Russell Gunther - D.A. Davidson & Co. Christopher Marinac - Janney Montgomery Scott, LLC Erik Zwick - Boenning & Scattergood, Inc. Matthew Breese - Stephens Inc. Operator Good morning, everyone, and welcome to the OceanFirst Financial Corp. Quarterly Earnings Conference Call.

OceanFirst Financial Corp. (OCFC) CEO Christopher Maher on Q1 2022 Results - Earnings Call Transcript

RED BANK, N. J., April 19, 2022 (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 16, 2022 to stockholders of record on April 29, 2022.

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

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The heavy selling pressure might have exhausted for OceanFirst (OCFC) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

After Plunging 8.6% in 4 Weeks, Here's Why the Trend Might Reverse for OceanFirst (OCFC)

RED BANK, N.J., March 17, 2022 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), today, announced that Michael J. Fitzpatrick, Executive Vice President and Chief Financial Officer, has announced plans for his retirement effective June 1, 2022. Patrick S. Barrett has been selected by the Company's Board of Directors as Mr. Fitzpatrick's successor effective June 2, 2022.

OceanFirst Financial Corp. Announces Retirement of Michael J. Fitzpatrick, Chief Financial Officer, and Selection of Patrick S.

OceanFirst had a challenging 2021, but the bank exits 2021 with above-average loan growth momentum, ongoing cost-reduction plans, and an expanded lending operation targeting new markets.

News for OceanFirst Financial Stock (OCFC)