OceanFirst Q3 net income falls 48% YoY to $19.7M; EPS $0.33 vs $0.64

OCEANFIRST FINANCIAL CORP

2023-Q3 EPS reported $1.24

Net income available to common stockholders $19.7M ($0.33 diluted EPS), down from $37.6M ($0.64) in Q3 2022.
Net interest margin contracted to 2.91% from 3.36% a year ago; efficiency ratio worsened to 63.37% from 53.10%.
Nine-month net income $73.3M ($1.24 diluted EPS) vs $90.3M ($1.53) in prior year period.
Board declared $0.20/share common dividend payable Nov 17; $0.4375/depositary share preferred dividend payable Nov 15.
ROA fell to 0.57% from 1.19%; ROE decreased to 4.75% from 9.68% year-over-year.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OCEANFIRST FINANCIAL CORP reported the nine months ended September 30, 2023 results: net income $73.3 million, EPS $1.24 per diluted share.

Period: the nine months ended September 30, 2023
Net income: $73.3 million
EPS: $1.24 per diluted share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, the Company reported net income available to common stockholders of $73.3 million, or $1.24 per diluted share, as compared to $90.3 million, or $1.53 per diluted share, for the corresponding prior year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

OCEANFIRST FINANCIAL CORP reported the three months ended September 30, 2023 results: net income $19.7 million, EPS $0.33 per diluted share.

Period: the three months ended September 30, 2023
Net income: $19.7 million
EPS: $0.33 per diluted share
Result: reported results

Exact text from the filing

On October 19, 2023, OceanFirst Financial Corp. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

OCEANFIRST FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001004702-23-000154

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