OceanFirst Financial Corp. (NASDAQ:OCFC) Plans Quarterly Dividend of $0.17

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OceanFirst Financial Corp. (NASDAQ:OCFC) declared a quarterly dividend on Wednesday, October 23rd, Fidelity reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.17 per share by the savings and loans company on Friday, November 15th. This represents a $0.68 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, November 1st. This is a positive change from OceanFirst Financial’s previous quarterly dividend of $0.13.

Shares of OCFC stock traded down $0.09 during trading hours on Wednesday, hitting $24.07. The company had a trading volume of 5,790 shares, compared to its average volume of 189,640. The company’s fifty day moving average is $23.42 and its 200 day moving average is $23.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.98 and a quick ratio of 0.98. OceanFirst Financial has a fifty-two week low of $20.46 and a fifty-two week high of $26.35. The stock has a market capitalization of $1.24 billion, a PE ratio of 12.10 and a beta of 0.78.

OceanFirst Financial (NASDAQ:OCFC) last issued its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. OceanFirst Financial had a net margin of 26.72% and a return on equity of 9.55%. The firm had revenue of $74.94 million for the quarter, compared to analyst estimates of $75.33 million. Equities analysts forecast that OceanFirst Financial will post 2.07 earnings per share for the current year.

Several equities analysts have recently commented on OCFC shares. ValuEngine upgraded shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Sandler O’Neill lowered shares of OceanFirst Financial from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lowered shares of OceanFirst Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $29.00 to $26.50 in a report on Monday, July 29th. DA Davidson lowered shares of OceanFirst Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $27.00 to $21.50 in a report on Monday, August 12th. Finally, Zacks Investment Research upgraded shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.20.

OceanFirst Financial Company Profile

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.

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Dividend History for OceanFirst Financial (NASDAQ:OCFC)

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