OceanFirst Financial Corp. (OCFC) to Distribute Quarterly Dividend of $0.20 on August 21st

OceanFirst Financial Corp. (NASDAQ:OCFC) declared 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) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, August 10th.

OceanFirst Financial has raised its dividend by an average of 0.0%per year 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 $2.35 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 34.0%.

OceanFirst Financial Stock Performance

OCFC stock opened at $19.42 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.12 billion, a PE ratio of 22.85 and a beta of 0.99. The business has a 50 day moving average of $19.00 and a 200-day moving average of $18.77. OceanFirst Financial has a 12-month low of $16.29 and a 12-month high of $20.61.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings data on Thursday, July 30th. The savings and loans company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $131.33 million for the quarter, compared to analysts’ expectations of $135.62 million. OceanFirst Financial had a return on equity of 5.94% and a net margin of 6.38%. As a group, sell-side analysts expect that OceanFirst Financial will post 1.81 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.