OceanFirst Financial Corp. (NASDAQ:OCFC) Declares $0.20 Quarterly Dividend
by Jessica Moore · The Cerbat GemOceanFirst Financial Corp. (NASDAQ:OCFC – Get Free Report) announced a quarterly dividend on Wednesday, April 15th. Investors of record on Monday, April 27th will be given 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%annually over the last three years. 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 $2.05 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 Trading Up 0.9%
Shares of OceanFirst Financial stock opened at $19.07 on Thursday. The stock has a market cap of $1.09 billion, a P/E ratio of 16.44 and a beta of 1.00. The stock’s 50 day simple moving average is $18.53 and its 200-day simple moving average is $18.56. OceanFirst Financial has a 1-year low of $15.45 and a 1-year high of $20.61. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 1.01.
OceanFirst Financial (NASDAQ:OCFC – Get Free Report) last issued its earnings results on Thursday, January 22nd. The savings and loans company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $104.69 million for 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%. Analysts predict that OceanFirst Financial will post 1.6 EPS for the current fiscal 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.