OceanFirst Financial Corp. reports results for the quarter ended September 30 - Earnings Summary

• OceanFirst Financial Corp. reported quarterly adjusted earnings of 48 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 36 cents. The mean expectation of six analysts for the quarter was for earnings of 40 cents per share. Wall Street expected results to range from 39 cents to 42 cents per share.

• Revenue rose 89.9% to $172.12 million from a year ago; analysts expected $169.47 million.

• OceanFirst Financial Corp.'s reported EPS for the quarter was 17 cents​.

• The company reported quarterly net income of $16.46 million.

• OceanFirst Financial Corp. shares had fallen by 0.3% this quarter and lost 8.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 13.7% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for OceanFirst Financial Corp. is $21.50, about 22.5% above its last closing price of $16.67

This summary was machine generated from LSEG data October 27 at 10:22 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)