OceanFirst Financial Corp. (NASDAQ:OCFC) Stock to Pay Quarterly Dividend of $0.20

Key Points

• OceanFirst Financial declared a quarterly dividend of $0.20 per share, payable November 20 to shareholders of record on November 9. The annualized dividend is $0.80 per share, representing a 4.6% yield.
• The dividend appears well covered, with a current payout ratio of 41.7% and an expected future payout ratio of 34.5% based on projected earnings of $2.32 per share.
• OceanFirst reported quarterly earnings of $0.48 per share, surpassing the $0.40 analyst consensus, while revenue of $185.13 million also exceeded expectations.

OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 9th will be given a dividend of $0.20 per share by the savings and loans company on Friday, November 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, November 9th.

OceanFirst Financial has a dividend payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OceanFirst Financial to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

OceanFirst Financial Price Performance

NASDAQ OCFC opened at $17.36 on Wednesday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.43 and a beta of 1.02. The company has a 50 day simple moving average of $17.58 and a 200-day simple moving average of $18.47. OceanFirst Financial has a 52-week low of $15.60 and a 52-week high of $20.61.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The savings and loans company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.08. The company had revenue of $185.13 million for the quarter, compared to analysts' expectations of $177.79 million. On average, analysts predict that OceanFirst Financial will post 1.76 EPS for the current year.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. NASDAQ: OCFC is the bank holding company for OceanFirst Bank, a full-service community bank headquartered in Toms River, New Jersey. The company provides banking and financial services to individuals, families, businesses, and nonprofit organizations.

OceanFirst Bank offers deposit products, residential and commercial real estate lending, business loans, consumer loans, mortgage services, online and mobile banking, and cash-management solutions. Through its wealth-management operations, the company also provides investment management, trust, and financial-planning services.

Founded in 1902, OceanFirst has grown from a savings institution serving the Jersey Shore into a regional banking organization.

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