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OceanFirst: Q2 Earnings Snapshot

Associated Press Finance
·1 min read

RED BANK, N.J. (AP) — RED BANK, N.J. (AP) — OceanFirst Financial Corp. (OCFC) on Thursday reported second-quarter net income of $24.4 million.

The Red Bank, New Jersey-based company said it had net income of 40 cents per share. Earnings, adjusted for non-recurring gains, were 39 cents per share.

The results missed 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 $170.4 million in the period. Its adjusted revenue was $93.2 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $94.9 million.

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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