OceanFirst Financial Reports Q4 Earnings Beat, Misses Revenue Estimates
OceanFirst Financial Corp. (OCFC) announced fourth-quarter earnings of $21.9 million, or 36 cents per share, on Thursday. Adjusted for non-recurring costs, earnings were 38 cents per share.
The results exceeded analysts' expectations, with the average estimate from Zacks Investment Research being 36 cents per share.
Revenue for the period reached $171.9 million, while adjusted revenue fell short of analysts' estimates. Three analysts surveyed by Zacks had projected $95.7 million in adjusted revenue, compared to the actual $95.6 million achieved.