OceanFirst Financial Corp reports results for the quarter ended in December - Earnings Summary

OceanFirst Financial

18/01/2024 22:02

* OceanFirst Financial Corp  OCFC.OQ  reported quarterly
adjusted
earnings of 45 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 67 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 43 cents per
share. Wall Street expected results to range from 38 cents to 46
cents per share.
    * Revenue fell 17.5% to $87.82 million from a year ago;
analysts
expected $90.36 million. 
    * OceanFirst Financial Corp's reported EPS for the quarter
was 46
cents​.
    * The company reported quarterly net income of $26.68
million.
    * OceanFirst Financial Corp shares had fallen by 4.8% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for OceanFirst
Financial Corp is $20.00 
This summary was machine generated from LSEG data January 18 at
10:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.43           0.45           Beat
 Sep. 30 2023      0.35           0.32           Missed
 Jun. 30 2023      0.47           0.46           Missed
 Mar. 31 2023      0.64           0.55           Missed