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OceanFirst (OCFC) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended December 2023, OceanFirst Financial (OCFC - Free Report) reported revenue of $99.69 million, down 25.6% over the same period last year. EPS came in at $0.45, compared to $0.67 in the year-ago quarter.
The reported revenue represents a surprise of +2.49% over the Zacks Consensus Estimate of $97.26 million. With the consensus EPS estimate being $0.43, the EPS surprise was +4.65%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how OceanFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 60.4% versus 61.5% estimated by three analysts on average.
Net Interest Margin: 2.8% compared to the 2.8% average estimate based on three analysts.
Total interest-earning assets - Average Balance: $12.35 billion versus the two-analyst average estimate of $12.32 billion.
Total Non-Interest Income: $11.86 million compared to the $9.29 million average estimate based on three analysts.
Net Interest Income: $87.82 million versus $87.64 million estimated by three analysts on average.
Income from bank owned life insurance: $1.43 million versus the two-analyst average estimate of $1.21 million.
Fees and service charges: $5.32 million versus the two-analyst average estimate of $5.14 million.
Bankcard services revenue: $1.53 million versus $1.76 million estimated by two analysts on average.
Trust and asset management revenue: $0.61 million versus the two-analyst average estimate of $0.84 million.
Shares of OceanFirst have returned -3% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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OceanFirst (OCFC) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended December 2023, OceanFirst Financial (OCFC - Free Report) reported revenue of $99.69 million, down 25.6% over the same period last year. EPS came in at $0.45, compared to $0.67 in the year-ago quarter.
The reported revenue represents a surprise of +2.49% over the Zacks Consensus Estimate of $97.26 million. With the consensus EPS estimate being $0.43, the EPS surprise was +4.65%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how OceanFirst performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.4% versus 61.5% estimated by three analysts on average.
- Net Interest Margin: 2.8% compared to the 2.8% average estimate based on three analysts.
- Total interest-earning assets - Average Balance: $12.35 billion versus the two-analyst average estimate of $12.32 billion.
- Total Non-Interest Income: $11.86 million compared to the $9.29 million average estimate based on three analysts.
- Net Interest Income: $87.82 million versus $87.64 million estimated by three analysts on average.
- Income from bank owned life insurance: $1.43 million versus the two-analyst average estimate of $1.21 million.
- Fees and service charges: $5.32 million versus the two-analyst average estimate of $5.14 million.
- Bankcard services revenue: $1.53 million versus $1.76 million estimated by two analysts on average.
- Trust and asset management revenue: $0.61 million versus the two-analyst average estimate of $0.84 million.
View all Key Company Metrics for OceanFirst here>>>Shares of OceanFirst have returned -3% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.