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

OceanFirst Financial Corp. (NASDAQ:OCFC) announced a quarterly dividend on Thursday, July 30th. Stockholders 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 dividend yield of 4.1%. The ex-dividend date is Monday, August 10th.

OceanFirst Financial has raised 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 research 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 0.5%

NASDAQ:OCFC opened at $19.64 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.13 billion, a PE ratio of 16.79 and a beta of 0.98. The stock has a fifty day moving average price of $18.91 and a 200 day moving average price of $18.71. OceanFirst Financial has a 12-month low of $16.09 and a 12-month high of $20.61.

OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, July 30th. The savings and loans company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. OceanFirst Financial had a net margin of 10.04% and a return on equity of 5.35%. Sell-side analysts anticipate that OceanFirst Financial will post 1.85 earnings per share 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.