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Oceanfirst Financial (OCFC)
NASDAQ:OCFC
Earnings Data
Report Date
Jul 24, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.34Last Year’s EPS
0.39Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 24, 2025
|% Change Since: 0.36%
|Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of positive growth in earnings per share, loan growth, and asset quality, alongside challenges such as deposit decreases, noninterest income decline, and increased operating expenses. The Premier Bank initiative is a positive strategic move that could drive future growth, yet there are immediate challenges that temper the positive aspects.Company Guidance
During the Q1 2025 earnings call for OceanFirst Financial Corp., the company provided detailed guidance indicating a positive outlook based on several key metrics. Earnings per share were reported at $0.35 on a fully diluted GAAP and core basis. The company experienced growth in net interest income, which increased by more than $3 million, and net interest margin, which expanded by 21 basis points due to deposit repricing efforts. Commercial and industrial loan growth was robust at 6%, or 24% annualized, with the total commercial loan pipeline rising to $376 million. Operating expenses were slightly lower at $64 million compared to the previous quarter. Asset quality remained strong, with annualized net charge-offs at just three basis points and loans classified as special mention and substandard decreasing by 5% to $149 million, representing 1.5% of total loans. The common equity Tier one capital ratio stood at an estimated 11.2%, with a tangible book value per share of $19.16. The board approved a $0.20 quarterly cash dividend, marking the company's 113th consecutive dividend. The Premier Bank initiative was highlighted as a driver for organic deposit growth and margin improvement in the second half of the year.Earnings Per Share and Revenue Growth
The company reported earnings per share of $0.35 on a fully diluted GAAP and core basis. There was a net interest income growth of more than $3 million for the quarter, with net interest margin expanding by 21 basis points.
Commercial and Industrial Loan Growth
Commercial and industrial loan growth was 6%, or 24% annualized, with the total commercial loan pipeline increasing to $376 million by the end of the period.
Asset Quality and Capital Levels
Asset quality remained strong with annualized net charge-offs at just three basis points. Total loans classified as special mention and substandard decreased by 5% to $149 million. The common equity Tier one capital ratio was 11.2%, and tangible book value per share was $19.16.
Premier Bank Initiative
The Premier Bank initiative is expected to drive organic deposit growth and additional margin improvement in the second half of the year. Nine premier banking teams were onboarded in April, which historically manage significant customer portfolios.
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OCFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OCFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Apr 24, 2025 | $16.50 | $16.55 | +0.30% |
| Jan 23, 2025 | $18.94 | $18.60 | -1.80% |
| Oct 17, 2024 | $19.03 | $18.68 | -1.84% |
| Jul 18, 2024 | $17.66 | $16.82 | -4.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Oceanfirst Financial (OCFC) report earnings?
Oceanfirst Financial (OCFC) is schdueled to report earning on Jul 24, 2025, TBA Not Confirmed.
What is Oceanfirst Financial (OCFC) earnings time?
Oceanfirst Financial (OCFC) earnings time is at Jul 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OCFC EPS forecast?
OCFC EPS forecast for the fiscal quarter 2025 (Q2) is 0.34.
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