According to Keefe, Bruyette & Woods, OceanFirst Financial OCFC posted operating EPS of $0.28 which beat the estimate and consensus by a penny.
Keefe, Bruyette & Woods said that margin expansion and good cost control helped to mitigate weaker fees and strengthen preprovision profitability by 3 bps to 1.71%. “Credit trends improved with NPAs down 10 bps to 2.27% which gave way to a lighter provision. Raising estimates, target.”
OceanFirst Financial closed yesterday at $13.38.
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Posted In: Analyst ColorAnalyst RatingsFinancialsKeefe Bruyette & WoodsOceanFirst Financial Corp.Thrifts & Mortgage Finance
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