OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial ...
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Est. EPS $0.42 · Revenue $180.38M · 5 analysts
Est. EPS $0.50 · Revenue $182.81M · 4 analysts
Est. EPS $1.79 · Revenue $598.09M · 5 analysts
Est. EPS $0.53 · Revenue $181.50M · 1 analysts
$0.80 per share
$0.80 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $655.6M | -4.7% | +25.9% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $71.0M | -29.1% | -114.8% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +54.5% | +0.7% | +4.3% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +14.1% | -25.7% | -107.4% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +10.8% | -25.6% | -111.7% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $79.5M | -6.1% | +43.9% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +12.1% | -1.5% | +14.3% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 98.3% | +32.8% | +5.4% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.13x | +30.5% | +114.8% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $14.6B | +8.5% | +59.9% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.17 vs 1.40 | -16.4% | -0.04 vs 0.42 | -110.3% |
| Revenue Surprise | $655.6M vs $402.4M | +62.9% | $209.6M vs $180.4M | +16.2% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 31, 2026 | Schaeffer Brian | other: SEVP & CIO, OceanFirst Bank | Common Stock | D | 5,500 | $18.91 |
| Aug 7, 2026 | BURAN JOHN R | director | Common Stock | D | 113,463 | $19.40 |
| Jun 1, 2026 | WARBURG PINCUS LLC | director | Common Stock, par value $0.01/share | — | 0 | — |
| Jun 1, 2026 | WARBURG PINCUS LLC | director | Non-Voting Common Equivalent Stock, par value $0.01/share | — | 0 | — |
| Jun 1, 2026 | WARBURG PINCUS LLC | director | Warrants | — | 11,387 | — |
Alfred Goon: Thank you. Welcome to the OceanFirst second quarter of 2026 earnings call. I am Alfred Goon, SVP of Corporate Development and Investor Relations. Before we kick off the call, we'd like to remind everyone that our quarterly earnings release and related earnings supplement can be found on the company website, OceanFirst.com. Our remarks today may contain forward-looking statements and may refer to non-GAAP financial measures. Participants should refer to our SEC filings for a complete discussion of forward-looking statements and associated risk factors. Thank you, and now I will turn the call over to Christopher Maher, Chief Executive Officer of OceanFirst. Christopher Maher Thank you, Alfred. Good morning. Thank you to all who have been able to join our second quarter of 2026 earnings conference call. This morning I'm joined by our President, Joseph Lebel, and our Chief Financial Officer, Patrick Barrett. We appreciate your interest in our performance and this opportunity to discuss our results with you. This morning we will provide brief remarks about the financial and operating performance for the quarter, and some color regarding the outlook for our business. We may refer to the slides filed in connection with the earnings release throughout the call. After our discussion, we look forward to taking your questions. We reported second quarter results that reflect the closing of our transformational acquisition of Flushing Financial Corporation on June 1. On a GAAP basis, we reported a net loss of $0.04 per fully diluted share, which was driven by $0.47 per share, or $33.6 million, of non-recurring merger-related expenses net of taxes. On a core basis, which excludes non-recurring items, earnings per share was $0.43, or $30.5 million, unchanged from the prior quarter and up 39% from the prior year. Pre-tax, pre-provision core earnings grew by 29% from the prior quarter to $44.5 million. We've seen quarterly improvement in the company's performance in the second quarter of 2025 in net interest income, net interest margin, and return on average assets. This highlights our multi-quarter journey from our revenue-generating investments as we continue to improve towards peer profitability levels. This week our Board also approved the quarterly cash dividend of $0.20 per common share, marking the company's 118th consecutive quarterly cash dividend. As mentioned previously, we complete our acquisition of Flushing Financial Corporation on June 1 concurrent with the $225 million strategic investment from Warburg Pincus, which was priced at $19.76 per share. Flushing added approximately $8.7 billion in total assets, $5 billion in loans, and $7.4 billion in deposits, along with 30 retail branches across New York City and Long Island, bringing our combined franchise to approximately $23 billion in assets. We're thrilled to welcome the Flushing team and their customers to the OceanFirst family. We also repositioned our balance sheet by selling …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Christopher D. Maher | CEO & Director | USD 2,084,912 | Male | 1967 | Active |
Joseph J. Lebel | President, Chief Operating Officer & Director | USD 1,231,483 | Male | 1962 | Active |
Patrick S. Barrett | Senior EVP & CFO | USD 1,211,966 | Male | 1964 | Active |
Michele Estep | Senior EVP & Chief Administrative Officer of OceanFirst Bank, National Association. | USD 792,352 | Female | 1970 | Active |
Steven J. Tsimbinos | Senior EVP, General Counsel & Corporate Secretary | USD 791,456 | Male | 1970 | Active |
Alfred Goon | Senior Vice President of Corporate Development, Strategy & Investor Relations | — | Male | — | Active |
Brian E. Schaeffer CISA CISSP | Senior EVP & Chief Information Officer of OceanFirst Bank, National Association | — | Male | 1971 | Active |
Jill Apito Hewitt | SVP Director of Corporate Communications and Community Impact | — | Female | 1965 | Active |
Patrick Chong | Principal Accounting Officer | — | Male | 1989 | Active |
Kevin Georgetti | Senior Vice President & Chief Compliance Officer | — | Male | — | Active |
Bank of America Corp DE boosted its position in shares of OceanFirst Financial Corp. (NASDAQ: OCFC) by 16.1% in the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 493,623 shares of the savings and loans company's stock after buying an additional 68,347 shares
OceanFirst Financial Corp. (OCFC) Q2 2026 Earnings Call Transcript
OceanFirst Financial NASDAQ: OCFC reported a second-quarter GAAP net loss of $0.04 per diluted share after recording $33.6 million of after-tax merger-related expenses tied to its acquisition of Flushing Financial Corporation. On a core basis, excluding non-recurring items, the company earned $0.43 per share, or $30.5 million, unchanged from the prior quarter and 39% above the prior-year period.
OceanFirst Financial Corp. remains Buy-rated following its transformative acquisition of Flushing Financial, scaling assets to $23.3 billion and expanding its New York metro presence. Q2 2026 results showed adjusted earnings of $0.43 per share, in line with expectations, with strong organic loan and deposit growth despite headline GAAP losses from merger costs. Net interest margin expanded to 3.05%, while credit quality and core return metrics improved, reflecting disciplined management and a resilient commercial focus.
OceanFirst Financial (OCFC) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.31 per share a year ago.
