OceanFirst Financial Corp. (OCFC) Income Statement Analysis

See more : PS Business Parks, Inc. (PSB-PY) Income Statement Analysis – Financial Results

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.

You may be interested

OceanFirst Financial Corp. (OCFC)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.oceanfirst.com

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

What Makes OceanFirst (OCFC) a New Strong Buy Stock

July 22, 2022zacks.com

OceanFirst (OCFC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Can OceanFirst (OCFC) Climb 36% to Reach the Level Wall Street Analysts Expect?

July 11, 2022zacks.com

The mean of analysts' price targets for OceanFirst (OCFC) points to a 35.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in...

OceanFirst Financial Corp. Schedules Earnings Conference Call

June 29, 2022globenewswire.com

RED BANK, N.J., June 29, 2022 (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, 2022 on Thursday, July 28, 2022...

OceanFirst Financial Corp. (OCFC) CEO Christopher Maher on Q1 2022 Results - Earnings Call Transcript

April 29, 2022seekingalpha.com

OceanFirst Financial Corp. (NASDAQ:OCFC ) Q1 2022 Earnings Conference Call April 29, 2022 11:00 AM ET Company Participants Jill Hewitt - Senior Vice President and Investor Relations Christopher Maher - Chairman and Chief Executive Officer Joseph Lebel - President and...

3 Buy-Rated Stocks From the Prospering Savings & Loan Industry

April 11, 2022zacks.com

The Zacks Savings and Loan industry players like PFS, HMST and OCFC should enjoy upside momentum with economic recovery, interest rate hike and consolidation efforts.

After Plunging 8.6% in 4 Weeks, Here's Why the Trend Might Reverse for OceanFirst (OCFC)

April 6, 2022zacks.com

The heavy selling pressure might have exhausted for OceanFirst (OCFC) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is...

OceanFirst Financial Corp. Schedules Earnings Conference Call

March 25, 2022globenewswire.com

RED BANK, N.J., March 25, 2022 (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, 2022 on Thursday, April 28, 2022...