Welcome to our dedicated page for Oceanfirst Finl news (Ticker: OCFC), a resource for investors and traders seeking the latest updates and insights on Oceanfirst Finl stock.
OceanFirst Financial Corp (NASDAQ: OCFC) is the holding company for OceanFirst Bank N.A., a regional bank serving business and retail customers throughout New Jersey and the major metropolitan areas between Massachusetts and Virginia. As a savings institution focused on loans and deposits, the company regularly issues detailed updates on its financial performance, capital actions, and strategic initiatives, making OCFC news relevant for investors who follow regional banks and community-based financial institutions.
On this page, readers can review news items such as quarterly and annual earnings releases, where OceanFirst reports net income, net interest income, net interest margin, credit loss provisions, and non-interest income and expense. These releases often include commentary on loan and deposit growth, commercial and industrial lending activity, residential mortgage strategies, and changes in funding costs. The company also discusses non-GAAP measures like core earnings and pre-tax, pre-provision results in its financial communications.
OceanFirst news also covers corporate actions and capital management, including stock repurchase programs, preferred stock redemptions, and subordinated debt offerings intended to qualify as Tier 2 capital. In addition, the company publishes announcements about strategic transactions, such as the definitive merger agreement with Flushing Financial Corporation and the related equity investment agreement with affiliates of funds managed by Warburg Pincus LLC.
Investors and analysts can use this news feed to track OceanFirst’s operating trends, credit quality commentary, and updates on the proposed merger and capital initiatives. Regularly reviewing OCFC news can help users understand how the company describes its performance, balance sheet changes, and regional growth plans over time.
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OceanFirst Financial Corp. (NASDAQ:OCFC) reported a net income of $26.9 million or $0.46 per diluted share for Q1 2023, up from $24.8 million or $0.42 per diluted share year-over-year but down from $52.3 million or $0.89 per diluted share in the prior quarter. Key performance ratios showed a return on average assets at 0.82%, down sharply from 1.62% a year earlier. Net interest margin decreased to 3.34% from 3.64% sequentially, with net interest income at $98.8 million. The company maintained a robust liquidity position, with total available liquidity of $3.6 billion. Stockholders' equity rose to $1.61 billion, equating to a tangible common equity ratio of 7.95%.
OceanFirst Financial Corp. (NASDAQ: OCFC) has declared a quarterly cash dividend of $0.4375 per share, payable on May 15, 2023, to stockholders of record on April 28, 2023. This announcement reflects the company's commitment to returning value to its shareholders. OceanFirst Bank, a subsidiary of OceanFirst Financial, provides extensive financial services across New Jersey and major metropolitan areas including Philadelphia, New York, Baltimore, and Boston. Founded in 1902, it is recognized as one of the largest community-based financial institutions in New Jersey.
OceanFirst Financial Corp. (NASDAQ:OCFC) will release its earnings for Q1 2023 on April 20, 2023, after market close. A conference call to discuss the earnings will occur on April 21, 2023, at 11:00 a.m. ET, accessible via phone or online at www.oceanfirst.com. OceanFirst Bank, a regional financial institution with assets of $13.1 billion, provides a variety of services across New Jersey and surrounding metropolitan areas including Philadelphia, New York, Baltimore, and Boston.
OceanFirst Bank has appointed Stephen Adamo as President of Residential and Consumer Lending. Adamo brings nearly three decades of experience in mortgage banking, previously serving as President of National Retail Production at Embrace Home Loans and holding leadership roles at Santander Bank and Citizens Financial Group. His focus will be on expanding residential and consumer lending products and services. OceanFirst, a regional bank with over 120 years in operation, manages assets of $13.1 billion, providing a range of financial services across New Jersey and metropolitan areas like Philadelphia and New York.
OceanFirst Financial Corp. (NASDAQ: OCFC) reported a robust net income of $52.3 million or $0.89 per diluted share for Q4 2022, up from $37.6 million or $0.64 in Q3 2022 and $21.7 million or $0.37 in Q4 2021. For the full year 2022, net income reached $142.6 million or $2.42 per diluted share, compared to $106.1 million or $1.78 in 2021. Key drivers included an increase in net interest income to $106.5 million and a net interest margin expansion to 3.64%. Loan growth totaled $1.30 billion for the year. The Company declared its 104th consecutive quarterly dividend of $0.20 per share.
OceanFirst Financial Corp. (NASDAQ:OCFC) announced it will release its earnings for the quarter ended December 31, 2022, on January 19, 2023, after market close. Management will discuss the fourth quarter's performance during a conference call on January 20, 2023, at 11:00 a.m. ET. The call can be accessed via a toll-free number or online. OceanFirst Bank, the company's subsidiary, is a regional bank with $12.7 billion in assets, serving New Jersey and major metropolitan areas. The bank provides a range of financial services, including commercial and residential financing.
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