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

Key Points

• OceanFirst Financial (NASDAQ: OCFC) declared a quarterly dividend of $0.20 per share (annualized $0.80) with an ex-dividend/record date of April 27 and payment on May 8, implying a yield of about 4.2%.
• The dividend appears well covered, with a current payout ratio of ~41.7% and analysts estimating $2.05 EPS next year (implying a forecasted payout ratio near 39%).
• OCFC recently beat estimates with Q earnings of $0.41 vs. $0.39 expected and revenue of $104.7M, and the stock trades around $19 with a market cap of about $1.09B and a P/E of 16.44.

OceanFirst Financial Corp. (NASDAQ:OCFC - Get Free Report) announced a quarterly dividend on Wednesday, April 15th. Shareholders of record on Monday, April 27th will be paid a dividend of 0.20 per share by the savings and loans company on Friday, May 8th. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, April 27th.

OceanFirst Financial has increased its dividend by an average of 0.0%per year over the last three years. OceanFirst Financial has a dividend payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect OceanFirst Financial to earn $2.05 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 39.0%.

OceanFirst Financial Price Performance

Shares of OCFC opened at $19.07 on Thursday. The business's 50-day moving average is $18.53 and its two-hundred day moving average is $18.56. The company has a market capitalization of $1.09 billion, a P/E ratio of 16.44 and a beta of 1.00. OceanFirst Financial has a fifty-two week low of $15.45 and a fifty-two week high of $20.61. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.01 and a current ratio of 1.01.

OceanFirst Financial (NASDAQ:OCFC - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $104.69 million during the quarter, compared to analysts' expectations of $103.20 million. OceanFirst Financial had a return on equity of 5.14% and a net margin of 10.33%. Research analysts predict that OceanFirst Financial will post 1.6 earnings per share for the current year.

About OceanFirst Financial

OceanFirst Financial Corporation NASDAQ: OCFC is a bank holding company headquartered in Toms River, New Jersey, that provides a full range of community banking and financial services through its principal subsidiary, OceanFirst Bank. Established in the early 20th century, the company has built its business around serving the deposit, lending and wealth management needs of individuals, small businesses, municipalities and nonprofit organizations across New Jersey and portions of New York.

The company's core activities include accepting consumer and business deposits, making commercial, municipal and consumer loans, and offering residential mortgage financing.

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