OceanFirst Financial: 5% Yield, But We Are Not Buyers |
OceanFirst Financial Corp. offers a 5% dividend yield, but concerns about its loan portfolio and asset quality justify a hold/neutral rating. Q1 results were mixed: revenue slightly beat expectations, but net income and EPS declined year-over-year and sequentially. Asset quality metrics are mixed with increased delinquent loans and higher provisions for credit losses, signaling potential risks. |
seekingalpha.com |
2025-04-28 15:39:03 |
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OceanFirst Financial Corp. (OCFC) Q1 2025 Earnings Conference Call Transcript |
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q1 2025 Results Earnings Conference Call April 25, 2025 11:00 AM ET Company Participants Alfred Goon - Senior Vice President, Corporate Development and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel III - President and Chief Operating Officer Patrick Barrett - Executive Vice President and Chief Financial Officer Conference Call Participants Frank Schiraldi - Piper Sandler Tim Switzer - KBW David Bishop - Hovde Group Christopher Marinac - Janney Montgomery Scott Daniel Tamayo - Raymond James Matthew Breese - Stephens, Inc. Manuel Navas - D.A. Davidson Companies Operator Hello, everyone, and thank you for joining the OceanFirst Financial Corp. Q1 2025 earnings call. |
seekingalpha.com |
2025-04-25 19:18:35 |
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Compared to Estimates, OceanFirst (OCFC) Q1 Earnings: A Look at Key Metrics |
Although the revenue and EPS for OceanFirst (OCFC) give a sense of how its business performed in the quarter ended March 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. |
zacks.com |
2025-04-25 00:30:40 |
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OceanFirst Financial (OCFC) Matches Q1 Earnings Estimates |
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.35 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.44 per share a year ago. |
zacks.com |
2025-04-24 22:50:34 |
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OceanFirst Financial Corp. Announces First Quarter Financial Results |
RED BANK, N.J., April 24, 2025 (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 $20.5 million, or $0.35 per diluted share, for the quarter ended March 31, 2025, a decrease from $27.7 million, or $0.47 per diluted share, for the corresponding prior year period, and a decrease from $20.9 million, or $0.36 per diluted share, for the linked quarter. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information): |
globenewswire.com |
2025-04-24 20:35:00 |
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OceanFirst Financial Corp. Schedules Earnings Conference Call |
RED BANK, N.J., April 14, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended March 31, 2025 on Thursday, April 24, 2025 after the market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, April 25, 2025 to discuss highlights of the Company's quarterly operating performance. |
globenewswire.com |
2025-04-15 00:21:00 |
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OceanFirst Financial Corp. Announces Redemption of all Outstanding 57,370 shares of 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock of OceanFirst Financial Corporation |
RED BANK, N.J., April 11, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ: OCFC) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank” or “OceanFirst”), announced today that it will redeem 57,370 shares of its 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), constituting all of the outstanding shares of the Series A Preferred Stock, on May 15, 2025, the next dividend payment date for the Series A Preferred Stock (the “Redemption Date”). Payment of the cash redemption price equal to $1,000 per share of Series A Preferred Stock (the “Redemption Price”) (equivalent to $25 per Depositary Share) will be made on the Redemption Date. The Redemption Price does not include the previously declared dividend payment that is due on the Redemption Date and that will be paid immediately prior to the redemption of the Series A Preferred Stock on the Redemption Date to holders of record on the record date for such dividend payment. On the Redemption Date, simultaneous with the redemption of the Series A Preferred Stock, the depositary for the Series A Preferred Stock will redeem 2,294,800 depositary shares (the “Depositary Shares”), each representing a 1/40th interest in a share of the Series A Preferred Stock, for an amount per Depositary Share equal to 1/40th of the Redemption Price per share of Series A Preferred Stock. |
globenewswire.com |
2025-04-11 20:30:00 |
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OceanFirst Financial (OCFC) Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release |
OceanFirst (OCFC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. |
zacks.com |
2025-04-10 15:05:55 |
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OceanFirst Financial Will Likely Call Its Preferred Shares |
OceanFirst Financial's Q4 performance was weaker than expected due to higher loan loss provisions, resulting in a lower net income of $21.9M. The preferred stock remains attractive with a current yield of 6.97%, but investors should be cautious of potential calls due to high future dividend costs. Management is considering partial redemption of preferred shares to manage capital costs. A full call would boost EPS on common shares by $0.10 annually. |
seekingalpha.com |
2025-02-08 13:40:00 |
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OceanFirst Financial Corp. (OCFC) Q4 2024 Earnings Conference Call Transcript |
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q4 2024 Earnings Conference Call January 24, 2025 11:00 AM ET Company Participants Alfred Goon - Senior Vice President, Corporate Development and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel - President and Chief Operating Officer Patrick Barrett - Executive Vice President and Chief Financial Officer Conference Call Participants Tim Switzer - KBW Christopher Marinac - Janney Montgomery Scott David Bishop - Hovde Group Matthew Breese - Stephens Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Operator Good morning, and thank you all for attending the OceanFirst Financial Corp. Q4 2024 Earnings Call. My name is, Brika, and I will be your moderator for today. |
seekingalpha.com |
2025-01-24 16:10:45 |
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OceanFirst (OCFC) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates |
The headline numbers for OceanFirst (OCFC) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals. |
zacks.com |
2025-01-23 21:31:09 |
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OceanFirst Financial (OCFC) Q4 Earnings Beat Estimates |
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.45 per share a year ago. |
zacks.com |
2025-01-23 20:36:09 |
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OceanFirst Financial Corp. Announces Quarterly and Annual Financial Results |
RED BANK, N.J., Jan. 23, 2025 (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 $20.9 million, or $0.36 per diluted share, for the quarter ended December 31, 2024, a decrease from $26.7 million, or $0.46 per diluted share, for the corresponding prior year period, and $24.1 million, or $0.42 per diluted share, for the prior linked quarter. For the year ended December 31, 2024, the Company reported net income available to common stockholders of $96.0 million, or $1.65 per diluted share, a decrease from $100.0 million, or $1.70 per diluted share, for the prior year. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information): |
globenewswire.com |
2025-01-23 18:15:00 |
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OceanFirst Financial Corp. Declares Quarterly Cash Dividend for Series A Preferred Stock |
RED BANK, N.J., Jan. 21, 2025 (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 February 17, 2025 to stockholders of record on January 31, 2025. |
globenewswire.com |
2025-01-21 19:21:00 |
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Insights Into OceanFirst (OCFC) Q4: Wall Street Projections for Key Metrics |
Beyond analysts' top -and-bottom-line estimates for OceanFirst (OCFC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024. |
zacks.com |
2025-01-20 12:21:45 |
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OceanFirst Financial Corp. Schedules Earnings Conference Call |
RED BANK, N.J., Jan. 06, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended December 31, 2024 on Thursday, January 23, 2025 after the market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, January 24, 2025 to discuss highlights of the Company's quarterly operating performance. |
globenewswire.com |
2025-01-06 14:58:00 |
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OceanFirst Financial Corp. and OceanFirst Bank N.A. Receive Moody's Investment Grade Ratings |
OceanFirst Bank N.A. receives Deposit Ratings of A3/Prime-2 and OceanFirst Financial Corp. receives an Issuer Rating of Baa3 OceanFirst Bank N.A. receives Deposit Ratings of A3/Prime-2 and OceanFirst Financial Corp. receives an Issuer Rating of Baa3 |
globenewswire.com |
2024-11-06 14:45:00 |
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OceanFirst Financial Corp. (OCFC) Q3 2024 Earnings Call Transcript |
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q3 2024 Earnings Conference Call October 18, 2024 11:00 AM ET Company Participants Alfred Goon - Senior Vice President, Corporate Development and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel - President and Chief Operating Officer Patrick Barrett - Executive Vice President and Chief Financial Officer Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Tim Switzer - KBW David Bishop - Hovde Matthew Breese - Stephens Manuel Navas - D.A. Davidson Christopher Marinac - JMS Operator Good morning, and thank you all for attending the OceanFirst Financial Corp. Third Quarter '24 Earnings Release Conference Call. |
seekingalpha.com |
2024-10-18 23:21:06 |
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OceanFirst Financial: Another Regional Bank At Highs, Mixed Operational Performance |
OceanFirst Financial Corp.'s attractive 5% dividend yield is tempting, but concerns about its commercial real estate loan portfolio make it risky. Q3 earnings were mixed: deposits and loans dipped, but loan loss provisions and book value improved. Asset quality metrics were mixed; net charge-offs increased, and non-performing loans rose, but the efficiency ratio improved. |
seekingalpha.com |
2024-10-18 21:00:14 |
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OceanFirst (OCFC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates |
Although the revenue and EPS for OceanFirst (OCFC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. |
zacks.com |
2024-10-17 23:01:15 |
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OceanFirst Financial (OCFC) Q3 Earnings and Revenues Top Estimates |
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.32 per share a year ago. |
zacks.com |
2024-10-17 22:30:18 |
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OceanFirst Financial Corp. Announces Third Quarter Financial Results |
RED BANK, N.J., Oct. 17, 2024 (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 $24.1 million, or $0.42 per diluted share, for the three months ended September 30, 2024, an increase from $19.7 million, or $0.33 per diluted share, for the corresponding prior year period, and $23.4 million, or $0.40 per diluted share, for the prior linked quarter. For the nine months ended September 30, 2024, the Company reported net income available to common stockholders of $75.1 million, or $1.29 per diluted share, an increase from $73.3 million, or $1.24 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information): |
globenewswire.com |
2024-10-17 20:15:00 |
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Seeking Clues to OceanFirst (OCFC) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics |
Evaluate the expected performance of OceanFirst (OCFC) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight. |
zacks.com |
2024-10-14 14:23:19 |
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OceanFirst Financial (OCFC) Reports Next Week: Wall Street Expects Earnings Growth |
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. |
zacks.com |
2024-10-10 15:08:06 |
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OceanFirst Bank Secures $50,000 in Small Business Recovery Grants from Federal Home Loan Bank to Benefit Ten Local Nonprofit Organizations |
RED BANK, N.J., Oct. 07, 2024 (GLOBE NEWSWIRE) -- OceanFirst Bank N.A. (the “Bank” or “OceanFirst”), a subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), has helped ten nonprofit organizations in its market area to apply for and obtain Small Business Recovery Grants totaling $50,000 through a program created by the Federal Home Loan Bank of New York (FHLBNY). The grants are designed to assist eligible organizations who have faced economic challenges due to the rate environment, inflation, supply-chain constraints, or rising energy costs. |
globenewswire.com |
2024-10-07 20:05:00 |
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CommUNITYFirst Day 2024, Held on September 24th, Benefits Thousands |
700+ OceanFirst Bank Employees Volunteer 3,000 Hours at Nonprofit Organizations in Four States 700+ OceanFirst Bank Employees Volunteer 3,000 Hours at Nonprofit Organizations in Four States |
globenewswire.com |
2024-09-25 20:30:00 |
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OceanFirst Financial Corp. Schedules Earnings Conference Call |
RED BANK, N.J., Sept. 23, 2024 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended September 30, 2024 on Thursday, October 17, 2024 after market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, October 18, 2024 to discuss highlights of the Company's quarterly operating performance. |
globenewswire.com |
2024-09-23 21:08:00 |
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OceanFirst Bank Announces Voluntary Settlement of Fair Lending Claims by the U.S. Department of Justice and U.S. Department of Housing and Urban Development |
Agrees to Commit $14 Million in Residential Lending Subsidy Programs in New Brunswick Area Agrees to Commit $14 Million in Residential Lending Subsidy Programs in New Brunswick Area |
globenewswire.com |
2024-09-18 19:40:00 |
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OceanFirst Financial: 7% Yield Still Attractive Despite Call Risk |
OceanFirst Financial's preferred shares are safer due to a higher CET1 ratio and substantial common equity, despite weak earnings and decreasing net interest income. Preferred dividends are well-covered, requiring less than 5% of Q2 income, making them secure even with a significant increase in loan loss provisions. Preferred shares trade slightly above par with a 6.98% yield, but the approaching call date and potential floating rate increase to 11.8% heighten call risk. |
seekingalpha.com |
2024-09-10 14:30:00 |
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OceanFirst Financial Corp. (OCFC) Q2 2024 Earnings Call Transcript |
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q2 2024 Earnings Conference Call July 19, 2024 11:00 AM ET Company Participants Alfred Goon - IR Christopher Maher - Chairman and CEO Joe Lebel - President Pat Barrett - CFO Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Tim Switzer - KBW David Bishop - Hovde Group Manuel Navas - D.A. Davidson Matthew Breese - Stephens Christopher Marinac - Janney Montgomery Scott Operator Good morning, all, and thank you for attending the OceanFirst Financial Corp Q2 '24 Earnings Release Conference Call. |
seekingalpha.com |
2024-07-19 18:55:27 |
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OceanFirst (OCFC) Reports Q2 Earnings: What Key Metrics Have to Say |
The headline numbers for OceanFirst (OCFC) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals. |
zacks.com |
2024-07-18 23:00:32 |
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OceanFirst Financial (OCFC) Lags Q2 Earnings and Revenue Estimates |
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.46 per share a year ago. |
zacks.com |
2024-07-18 22:25:25 |
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OceanFirst Financial Corp. Announces Second Quarter Financial Results |
RED BANK, N.J., July 18, 2024 (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 $23.4 million, or $0.40 per diluted share, for the three months ended June 30, 2024, a decrease from $26.8 million, or $0.45 per diluted share, for the corresponding prior year period, and $27.7 million, or $0.47 per diluted share, for the prior linked quarter. For the six months ended June 30, 2024, the Company reported net income available to common stockholders of $51.0 million, or $0.87 per diluted share, a decrease from $53.7 million, or $0.91 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information): |
globenewswire.com |
2024-07-18 20:15:00 |
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Analysts Estimate OceanFirst Financial (OCFC) to Report a Decline in Earnings: What to Look Out for |
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. |
zacks.com |
2024-07-11 15:07:05 |
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OceanFirst Financial Corp. Schedules Earnings Conference Call |
RED BANK, N.J., June 24, 2024 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended June 30, 2024 on Thursday, July 18, 2024 after market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, July 19, 2024 to discuss highlights of the Company's quarterly operating performance. |
globenewswire.com |
2024-06-24 18:02:00 |
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OceanFirst Financial Corp. (OCFC) Q1 2024 Earnings Call Transcript |
OceanFirst Financial Corp. (NASDAQ:OCFC ) Q1 2024 Earnings Conference Call April 19, 2024 11:00 AM ET Company Participants Alfred Goon - Senior Vice President, Corporate Development 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 Frank Schiraldi - Piper Sandler Tim Switzer - KBW Daniel Tamayo - Raymond James David Bishop - Hovde Group Christopher Marinac - JMS Matthew Breese - Stephens, Inc. Manuel Navas - D.A. Davidson Operator Good morning. |
seekingalpha.com |
2024-04-19 20:16:08 |
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