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Complete financial analysis of OceanFirst Financial Corp. (OCFC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of OceanFirst Financial Corp., a leading company in the Banks – Regional industry within the Financial Services sector.
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OceanFirst Financial Corp. (OCFC)
About OceanFirst Financial Corp.
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers. The company also offers commercial real estate, multi-family, land loans, construction, and commercial and industrial loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; and consumer loans, such as home equity loans and lines of credit, student loans, overdraft line of credit, loans on savings accounts, and other consumer loans. In addition, it invests in mortgage-backed securities, securities issued by the U.S. Government and agencies, corporate securities, and other investments. Further, the company offers bankcard, wealth management, and trust and asset management services; and sells alternative investment products and life insurance products. As of December 31, 2021, it operated through its branch office in Toms River; administrative office located in Red Bank and Mount Laurel; 46 additional branch offices and four deposit production facilities located throughout central and southern New Jersey; and commercial loan production offices in New Jersey, New York City, the Philadelphia area, Baltimore, and Boston. The company was founded in 1902 and is based in Red Bank, New Jersey.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 385.68M | 431.60M | 352.09M | 367.16M | 292.18M | 271.12M | 192.73M | 138.33M | 91.33M | 88.58M | 81.50M | 90.28M | 92.78M | 92.43M | 81.05M | 70.85M | 55.46M | 71.73M | 85.02M | 76.76M | 76.39M | 71.69M | 67.94M | 55.84M | 53.70M | 46.60M | 45.50M | 39.30M | 2.31M |
| Cost of Revenue | -255.18M | 43.44M | 41.43M | 45.10M | 39.85M | 39.74M | 28.24M | 21.11M | 14.93M | 13.97M | 14.19M | 13.90M | 14.20M | 7.70M | 8.13M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 640.86M | 388.17M | 310.65M | 322.06M | 252.33M | 231.38M | 164.49M | 117.22M | 76.40M | 74.61M | 67.30M | 76.38M | 78.58M | 84.73M | 72.92M | 70.85M | 55.46M | 71.73M | 85.02M | 76.76M | 76.39M | 71.69M | 67.94M | 55.84M | 53.70M | 46.60M | 45.50M | 39.30M | 2.31M |
| Gross Profit Ratio | 166.16% | 89.94% | 88.23% | 87.72% | 86.36% | 85.34% | 85.35% | 84.74% | 83.65% | 84.22% | 82.58% | 84.60% | 84.70% | 91.67% | 89.97% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 146.96M | 139.27M | 147.74M | 136.49M | 106.95M | 100.13M | 71.51M | 57.51M | 38.75M | 37.79M | 34.90M | 33.36M | 35.94M | 44.21M | 39.36M | 30.69M | 39.39M | 39.53M | 31.18M | 27.24M | 22.24M | 20.32M | 27.50M | 23.86M | 20.40M | 18.60M | 17.30M | 13.20M | 8.71M |
| Selling & Marketing | 4.24M | 2.95M | 2.17M | 3.12M | 3.47M | 3.42M | 2.68M | 1.88M | 1.52M | 1.80M | 1.63M | 1.63M | 1.77M | 1.75M | 1.77M | 1.83M | 1.48M | 1.52M | 2.91M | 2.02M | 2.19M | 1.99M | 1.71M | 1.69M | 1.70M | 1.40M | 700.00K | 800.00K | 0.00 |
| SG&A | 151.20M | 142.22M | 149.91M | 139.61M | 110.42M | 103.55M | 74.19M | 59.39M | 40.27M | 39.59M | 36.53M | 34.99M | 37.71M | 45.95M | 41.13M | 32.53M | 40.87M | 41.05M | 34.10M | 29.26M | 24.43M | 22.31M | 29.21M | 25.54M | 22.10M | 20.00M | 18.00M | 14.00M | 8.71M |
| Other Expenses | 247.52M | 218.94M | -359.75M | -425.73M | -295.24M | -253.02M | 91.61M | 77.01M | 42.46M | 39.73M | 42.19M | 34.81M | 148.00K | 37.22M | 35.02M | -36.37M | -33.35M | -35.14M | -47.41M | -43.39M | -33.08M | -16.48M | -5.78M | 8.24M | 8.00M | 15.00M | 13.60M | -10.00M | 41.60M |
| Operating Expenses | 398.72M | 234.88M | -209.85M | -286.12M | -184.82M | -149.47M | 98.28M | 81.74M | 45.84M | 43.79M | 45.59M | 38.99M | 38.47M | 45.95M | 42.41M | -3.84M | 7.52M | 5.91M | -13.31M | -14.13M | -8.65M | 5.83M | 23.43M | 33.78M | 30.10M | 35.00M | 31.60M | 4.00M | 50.30M |
| Cost & Expenses | 209.01M | 234.88M | -209.85M | -286.12M | -184.82M | -149.47M | 126.52M | 102.85M | 60.78M | 57.76M | 59.79M | 52.89M | 52.66M | 53.65M | 50.54M | -3.84M | 7.52M | 5.91M | -13.31M | -14.13M | -8.65M | 5.83M | 23.43M | 33.78M | 30.10M | 35.00M | 31.60M | 4.00M | 50.30M |
| Interest Income | 607.97M | 431.18M | 342.09M | 379.61M | 308.79M | 276.65M | 188.83M | 133.43M | 85.86M | 79.85M | 80.16M | 87.62M | 95.39M | 101.37M | 95.86M | 103.41M | 114.96M | 116.56M | 102.80M | 90.95M | 94.54M | 108.46M | 118.16M | 116.11M | 107.30M | 105.60M | 98.60M | 80.30M | 70.21M |
| Interest Expense | 238.24M | 53.70M | 36.75M | 66.66M | 52.82M | 36.15M | 19.61M | 13.16M | 9.03M | 7.51M | 9.63M | 14.10M | 18.06M | 24.25M | 30.40M | 45.38M | 62.04M | 58.44M | 41.87M | 34.93M | 36.89M | 47.62M | 63.15M | 66.41M | 58.80M | 61.40M | 55.60M | 43.90M | 40.00M |
| Depreciation & Amortization | 16.40M | 16.43M | 14.85M | 14.69M | 12.23M | 12.51M | 8.34M | 5.42M | 21.00K | 3.93M | 4.22M | 4.26M | 2.45M | 2.45M | 4.65M | 5.14M | 5.11M | 5.60M | 5.57M | 5.32M | 8.54M | 8.15M | 8.93M | 6.03M | 6.30M | 8.40M | 8.30M | 1.90M | 810.00K |
| EBITDA | 0.00 | 210.40M | 157.12M | 95.77M | 119.79M | -3.81M | -874.00K | -856.00K | -149.00K | -390.00K | -161.00K | -10.00K | -623.00K | -701.00K | -2.00K | 44.39M | 0.00 | 0.00 | 54.46M | 52.76M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Ratio | 0.00% | 58.29% | 41.95% | 23.76% | 38.12% | 49.49% | 48.40% | 38.87% | 47.73% | 46.23% | 45.90% | 52.81% | 56.83% | 62.19% | 73.85% | 101.84% | 122.77% | 116.05% | 90.89% | 88.53% | 99.85% | 119.50% | 147.64% | 171.29% | 167.78% | 193.13% | 187.69% | 115.01% | 2,316.57% |
| Operating Income | 136.86M | 246.87M | 142.24M | 81.04M | 107.36M | 121.65M | -874.00K | -856.00K | -149.00K | -390.00K | -161.00K | -10.00K | -623.00K | -701.00K | -2.00K | 67.01M | 62.98M | 77.64M | 71.71M | 62.63M | 67.74M | 77.52M | 91.37M | 89.62M | 83.80M | 81.60M | 77.10M | 43.30M | 52.61M |
| Operating Income Ratio | 35.48% | 57.20% | 40.40% | 22.07% | 36.74% | 44.87% | -0.45% | -0.62% | -0.16% | -0.44% | -0.20% | -0.01% | -0.67% | -0.76% | 0.00% | 94.58% | 113.56% | 108.24% | 84.34% | 81.59% | 88.68% | 108.13% | 134.49% | 160.50% | 156.05% | 175.11% | 169.45% | 110.18% | 2,281.44% |
| Total Other Income/Expenses | -92.00K | -38.13M | -46.14M | -70.89M | -50.03M | -55.30M | -33.47M | -30.00M | -11.27M | -8.84M | -14.12M | -2.80M | -148.00K | 31.48M | 24.81M | -45.38M | -62.04M | 0.00 | 0.00 | 0.00 | -36.89M | -47.62M | -62.06M | -66.41M | -58.80M | -61.40M | -55.60M | -43.90M | -40.00M |
| Income Before Tax | 136.77M | 193.92M | 142.24M | 81.04M | 107.36M | 85.50M | 65.33M | 35.20M | 31.21M | 30.53M | 24.94M | 30.95M | 32.21M | 30.78M | 24.81M | 21.62M | 935.00K | 19.20M | 29.83M | 27.70M | 30.85M | 29.90M | 29.31M | 23.21M | 25.00M | 20.20M | 21.50M | -600.00K | 12.61M |
| Income Before Tax Ratio | 35.46% | 44.93% | 40.40% | 22.07% | 36.74% | 31.54% | 33.89% | 25.45% | 34.17% | 34.47% | 30.61% | 34.28% | 34.72% | 33.30% | 30.61% | 30.52% | 1.69% | 26.76% | 35.09% | 36.09% | 40.38% | 41.70% | 43.14% | 41.56% | 46.55% | 43.35% | 47.25% | -1.53% | 546.66% |
| Income Tax Expense | 32.70M | 46.57M | 32.17M | 17.73M | 18.78M | 13.57M | 22.86M | 12.15M | 10.88M | 10.61M | 8.61M | 10.93M | 11.47M | 10.40M | 9.16M | 6.86M | -140.00K | 6.56M | 10.34M | 9.76M | 10.97M | 9.75M | 10.06M | 6.83M | 8.70M | 7.20M | 7.70M | 1.10M | 4.66M |
| Net Income | 104.03M | 146.60M | 110.08M | 63.31M | 88.57M | 71.93M | 42.47M | 23.05M | 20.32M | 19.92M | 16.33M | 20.02M | 20.74M | 20.38M | 15.65M | 14.76M | 1.08M | 12.63M | 19.50M | 17.95M | 19.87M | 20.14M | 18.16M | 16.38M | 16.30M | 13.00M | 13.80M | -1.70M | 7.95M |
| Net Income Ratio | 26.97% | 33.97% | 31.26% | 17.24% | 30.31% | 26.53% | 22.04% | 16.66% | 22.25% | 22.49% | 20.04% | 22.17% | 22.36% | 22.05% | 19.31% | 20.84% | 1.94% | 17.61% | 22.93% | 23.38% | 26.01% | 28.10% | 26.73% | 29.34% | 30.35% | 27.90% | 30.33% | -4.33% | 344.62% |
| EPS | 1.70 | 2.43 | 1.79 | 1.02 | 1.77 | 1.54 | 1.32 | 1.00 | 1.22 | 1.19 | 0.96 | 1.13 | 1.14 | 1.12 | 0.98 | 1.27 | 0.09 | 1.09 | 1.65 | 1.48 | 1.62 | 1.57 | 1.31 | 1.06 | 0.91 | 0.65 | 0.30 | -0.06 | 0.29 |
| EPS Diluted | 1.70 | 2.42 | 1.78 | 1.02 | 1.75 | 1.51 | 1.28 | 0.98 | 1.21 | 1.19 | 0.95 | 1.12 | 1.14 | 1.12 | 0.98 | 1.26 | 0.09 | 1.07 | 1.60 | 1.42 | 1.53 | 1.47 | 1.23 | 1.03 | 0.89 | 0.63 | 0.29 | -0.06 | 0.29 |
| Weighted Avg Shares Out | 58.95M | 58.73M | 59.41M | 59.92M | 50.17M | 46.77M | 32.11M | 23.09M | 16.60M | 16.69M | 17.07M | 17.73M | 18.19M | 18.14M | 12.74M | 11.67M | 11.55M | 11.55M | 11.79M | 12.11M | 12.29M | 12.82M | 13.93M | 15.44M | 17.99M | 20.00M | 46.03M | 27.16M | 27.16M |
| Weighted Avg Shares Out (Dil) | 58.96M | 58.88M | 59.65M | 60.07M | 50.75M | 47.66M | 33.13M | 23.53M | 16.81M | 16.80M | 17.16M | 17.83M | 18.24M | 18.19M | 12.78M | 11.76M | 11.65M | 11.77M | 12.22M | 12.67M | 13.02M | 13.70M | 14.76M | 16.00M | 18.45M | 20.52M | 46.91M | 27.16M | 27.16M |
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
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 -...
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...
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.
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.
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...
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.
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.
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...
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
Source: https://incomestatements.info
Category: Stock Reports