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

OceanFirst Financial Corp. (NASDAQ:OCFC) declared a quarterly dividend on Thursday, January 22nd. Shareholders of record on Monday, February 2nd will be paid a dividend of 0.20 per share by the savings and loans company on Friday, February 13th. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Monday, February 2nd.

OceanFirst Financial has raised its dividend payment by an average of 0.0%annually over the last three years. OceanFirst Financial has a payout ratio of 41.7% indicating that 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 Trading Up 0.5%

Shares of NASDAQ OCFC opened at $19.19 on Friday. The firm’s 50 day moving average price is $18.81 and its 200-day moving average price is $18.26. OceanFirst Financial has a 52-week low of $14.29 and a 52-week high of $20.61. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $1.10 billion, a PE ratio of 14.88 and a beta of 1.07.

OceanFirst Financial (NASDAQ:OCFC) last announced its quarterly earnings results on Thursday, January 22nd. The savings and loans company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. OceanFirst Financial had a net margin of 11.77% and a return on equity of 5.02%. The company had revenue of $104.69 million during the quarter, compared to the consensus estimate of $103.20 million. On average, equities research analysts expect 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.