NASDAQ$OCFC
OceanFirst Financial Corp · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
OceanFirst's financial performance improved with increased net income and EPS compared to the prior year, driven by lower credit loss expenses and improved operating efficiency.
OceanFirst Financial Corp. reported a strong first quarter with net income available to common stockholders of $31.7 million, or $0.53 per diluted share, compared to $16.5 million, or $0.27 per diluted share, for the corresponding prior year period. The results benefited from a modest release of credit loss expense and improved levels of core operating expenses.
- Total loan growth for the quarter was $116.4 million, reflecting record loan originations of $747.8 million.
- Deposits increased $75.2 million, as compared to the prior linked quarter.
- Net interest margin for the quarter was 2.93%.
- The benefit for credit loss expense was $620,000 for the quarter.
Headline financials
Revenue & EPS history
OceanFirst · Revenue · Quarterly
$94.4M
Revenue by segment
OceanFirst · $81.4M total across 1 segment · Q4 2021
- Loans$81.4M—100.0%
Forward guidance
The Company continues to expand its commercial banking activities with the hiring of nine commercial bankers. The additional lenders are expected to help fuel organic loan growth throughout the remainder of the year. Additionally, the Company consolidated four branches in April 2021 bringing the total number of branches consolidated to 57 over the past five years.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.0%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.6%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+6.7%
Q4 2022
Best reaction
-8.3%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -0.9% | -1.9% | |
| Q4 2025 | -3.6% | -5.0% | +0.8% | |
| Q3 2025 | -5.8% | -3.1% | -5.8% | |
| Q2 2025 | -2.3% | -1.1% | +3.4% | |
| Q1 2025 | +0.3% | +0.4% | +0.7% | |
| Q3 2024 | -0.3% | -5.3% | +6.9% | |
| Q2 2024 | -6.8% | -2.7% | -11.6% | |
| Q1 2024 | +4.9% | +6.7% | +11.1% | |
| Q4 2023 | +6.5% | +9.0% | -4.7% | |
| Q3 2023 | -4.2% | -10.4% | +1.9% | |
| Q2 2023 | -2.7% | -0.4% | -2.8% | |
| Q1 2023 | -8.3% | -13.0% | -19.7% | |
| Q4 2022 | +6.7% | +8.3% | +17.1% | |
| Q3 2022 | +2.9% | +6.5% | +10.4% | |
| Q2 2022 | -1.0% | -1.3% | -4.0% | |
| Q1 2022 | +1.3% | +2.4% | +7.5% | |
| Q4 2021 | -0.2% | +0.4% | -1.0% | |
| Q3 2021 | +1.4% | +5.5% | -4.0% | |
| Q2 2021 | -0.3% | +0.1% | +11.8% | |
| Q1 2021 | -1.5% | -1.9% | -4.7% | |
| Q4 2020 | -0.6% | +2.6% | +18.9% | |
| Q3 2020 | -4.8% | -2.7% | +3.9% | |
| Q2 2020 | +1.1% | -0.7% | -4.1% | |
| Q1 2020 | +6.6% | +7.6% | +5.4% | |
| Q4 2019 | -2.2% | -5.7% | -11.8% | |
| Q3 2019 | -0.3% | +0.5% | -0.8% | |
| Q2 2019 | -0.3% | -5.2% | -19.8% | |
| Q1 2019 | +0.8% | +1.9% | -1.5% | |
| Q4 2018 | +0.8% | +1.5% | +8.2% | |
| Q3 2018 | +3.1% | +4.9% | +1.9% | |
| Q2 2018 | -0.3% | -2.7% | -1.4% | |
| Q1 2018 | +2.3% | -0.4% | +9.3% | |
| Q4 2017 | -2.0% | -2.6% | -4.3% | |
| Q3 2017 | +3.9% | -1.0% | -4.2% | |
| Q2 2017 | -1.9% | +0.3% | -7.9% | |
| Q1 2017 | -3.0% | -1.7% | -7.6% | |
| Q4 2016 | -0.5% | -5.0% | -1.7% | |
| Q3 2016 | +3.7% | +6.9% | +24.0% | |
| Q2 2016 | +0.5% | -0.5% | +4.4% | |
| Q1 2016 | +0.1% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | -2.8% | — | — | |
| Q1 2015 | +2.3% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | +1.4% | — | — | |
| Q1 2014 | -2.7% | — | — | |
| Q4 2013 | +1.0% | — | — | |
| Q3 2013 | +3.6% | — | — | |
| Q2 2013 | +3.1% | — | — | |
| Q1 2013 | +2.0% | — | — | |
| Q4 2012 | +3.2% | — | — | |
| Q3 2012 | +0.8% | — | — | |
| Q2 2012 | +1.8% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q4 2010 | +1.2% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q4 2009 | +1.2% | — | — | |
| Q3 2011 | -4.1% | — | — | |
| Q3 2010 | -4.1% | — | — | |
| Q2 2011 | -2.4% | — | — | |
| Q2 2010 | -2.4% | — | — | |
| Q1 2010 | +2.0% | — | — |
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