A number of stocks fell in the morning session after a surprisingly weak July jobs report and the announcement of sweeping new tariffs fueled fears of an economic slowdown and an impending interest rate cut.
Shares of regional bank OceanFirst Financial (NASDAQ:OCFC) fell 3.2% in the afternoon session after the company reported second-quarter financial results that missed analyst expectations on both revenue and earnings.
Regional bank OceanFirst Financial (NASDAQ:OCFC) fell short of the market’s revenue expectations in Q2 CY2025, but sales rose 6.6% year on year to $99.37 million. Its GAAP profit of $0.28 per share was 16% below analysts’ consensus estimates.
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Regional bank OceanFirst Financial (NASDAQ:OCFC) reported Q1 CY2025 results exceeding the market’s revenue expectations, but sales were flat year on year at $97.91 million. Its non-GAAP profit of $0.35 per share was in line with analysts’ consensus estimates.
OCFC stock results show that OceanFirst Financial missed analyst estimates for earnings per share and missed on revenue for the second quarter of 2024.
