OceanFirst Financial Will Likely Call Its Preferred Shares
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OceanFirst Financial's Q4 performance was weaker than expected due to higher loan loss provisions, resulting in lower net income. The company is considering calling its preferred shares to manage capital costs, which could boost EPS on common shares.
February 08, 2025 | 5:00 pm
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OceanFirst Financial's Q4 performance was weaker than expected, with net income at $21.9M due to higher loan loss provisions. The company is considering calling its preferred shares to manage capital costs, which could increase EPS on common shares by $0.10 annually.
The potential call of preferred shares indicates a strategic move to manage capital costs, which could positively impact the earnings per share on common shares. This suggests a potential positive short-term impact on OCFC's stock price.
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