OceanFirst: Q1 Earnings Snapshot

RED BANK, N.J. (AP) — RED BANK, N.J. (AP) — OceanFirst Financial Corp. (OCFC) on Thursday reported first-quarter profit of $28.7 million.

On a per-share basis, the Red Bank, New Jersey-based company said it had profit of 47 cents. Earnings, adjusted for non-recurring gains, were 44 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The holding company for OceanFirst Bank posted revenue of $173.9 million in the period. Its adjusted revenue was $98.5 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $95.5 million.


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

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