NASDAQ$OCFC

OceanFirst Financial Corp · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced quarterly and annual earnings and financial results.

OceanFirst Financial Corp. reported net income available to common stockholders of $21.7 million, or $0.37 per diluted share, for the quarter ended December 31, 2021.

  • Total loan growth for the quarter was $441.0 million.
  • Net interest margin increased to 2.99%, from 2.93% in the prior linked quarter, largely driven by the reduction in excess liquidity to fund loan growth.
  • The Company consolidated nine branches during the fourth quarter for a total of 67 branches consolidated.
  • The Company’s Board of Directors declared its 100th consecutive quarterly cash dividend on common stock of $0.17 per share.

Headline financials

Total Revenue

$80.6M

Previous: $77.9M+3.5%
EPS (adj)

$0.48

Previous: $0.39+23.1%
Return on average assets

0.7%

Previous: 1.1%-35.7%
Return on average stockholders' equity

5.7%

No prior period
Efficiency ratio

72.0%

Previous: 59.9%+20.3%
Net interest margin

3.0%

Previous: 3.0%+0.7%
Capital Expenditures

$15.5M

Previous: $5.71M+172.1%
Free Cash Flow

$25.4M

Previous: -$595K+4364.7%
Net Income

$22.7M

Previous: $33.1M-31.5%
Operating Income

$26.7M

Previous: $43.5M-38.5%
Cash & Equivalents

$205M

Previous: $1.32B-84.5%
Total Assets

$11.7B

Previous: $11.4B+2.5%
Stock-Based Comp

$1.18M

Previous: $529K+123.8%

Revenue & EPS history

OceanFirst · Revenue · Quarterly

$80.6M

Q4 2021+3.5%vs Q4 2020
Beat estimate in 7 of 16 quarters(44%)
ActualEstimate

Revenue by segment

OceanFirst · $81.4M total across 1 segment · Q4 2021

  • Loans
    $81.4M

Forward guidance

The Company expects to consolidate another 10 branches in the first quarter of 2022.

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 Q4 2021

Historical avgQ4 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

Earnings price reactions
QuarterReport dateReaction (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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