OceanFirst: 4Q Earnings Snapshot

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RED BANK, N.J. (AP) _ OceanFirst Financial Corp. (OCFC) on Thursday reported fourth-quarter profit of $33.1 million.

The Red Bank, New Jersey-based company said it had profit of 54 cents per share. Earnings, adjusted for non-recurring gains, were 39 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The holding company for OceanFirst Bank posted revenue of $136.2 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $92.2 million.

For the year, the company reported profit of $63.3 million, or $1.02 per share. Revenue was reported as $386.9 million.

OceanFirst shares have risen slightly more than 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.88, a drop of 22% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OCFC at https://www.zacks.com/ap/OCFC