OceanFirst Financial Corp. (OCFC) To Go Ex-Dividend on August 10th

OceanFirst Financial Corp. (NASDAQ:OCFC) announced a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be paid a dividend of 0.20 per share by the savings and loans company on Friday, August 21st. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 10th.

OceanFirst Financial has increased its dividend by an average of 0.0%annually over the last three years. OceanFirst Financial has a payout ratio of 41.7% meaning 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 Trading Down 1.7%

Shares of OCFC opened at $19.31 on Friday. OceanFirst Financial has a fifty-two week low of $16.09 and a fifty-two week high of $20.61. The business has a 50-day moving average of $18.92 and a 200 day moving average of $18.71. The firm has a market cap of $1.11 billion, a P/E ratio of 22.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 1.00.

OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings data on Thursday, July 30th. The savings and loans company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $131.33 million for the quarter, compared to the consensus estimate of $135.62 million. OceanFirst Financial had a net margin of 6.38% and a return on equity of 5.94%. As a group, research analysts forecast that OceanFirst Financial will post 1.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OCFC shares. DA Davidson upped their price target on shares of OceanFirst Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded OceanFirst Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. Finally, Piper Sandler set a $19.00 price target on OceanFirst Financial and gave the company a “neutral” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.00.

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.