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

OceanFirst Financial

19/10/2023 22:02

* OceanFirst Financial Corp  OCFC.OQ  reported quarterly
adjusted
earnings of 32 cents​​ per share for the quarter ended in
September. The mean expectation of seven analysts for the
quarter was for earnings of 35 cents per share.
    * Revenue fell 5.2% to $91.00 million from a year ago;
analysts
expected $91.30 million. 
    * OceanFirst Financial Corp's reported EPS for the quarter
was 59
cents​.
    * The mean earnings estimate of analysts had fallen by
about 20.4%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates 
    * OceanFirst Financial Corp shares had fallen by 3.7% this
quarter and lost 34.4% so far this year.
    * The company reported quarterly net income of $19.66
million.
    * Wall Street's median 12-month price target for OceanFirst
Financial Corp is $20.50 
    * 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." 

This summary was machine generated from LSEG Refinitiv data
October 19 at 09:02 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.35           0.32           Missed
 Jun. 30 2023      0.47           0.46           Missed
 Mar. 31 2023      0.64           0.55           Missed
 Dec. 31 2022      0.62           0.67           Beat