OceanFirst Financial Corp. (OCFC) To Go Ex-Dividend on February 2nd

OceanFirst Financial Corp. (NASDAQ:OCFC) announced 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) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, February 2nd.

OceanFirst Financial has increased its dividend by an average of 0.0%per year over the last three years. OceanFirst Financial has a dividend payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of OceanFirst Financial stock opened at $18.48 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.93 and a beta of 1.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.17. The stock’s 50-day simple moving average is $18.82 and its 200-day simple moving average is $18.26. OceanFirst Financial has a 52 week low of $14.29 and a 52 week high of $20.61.

OceanFirst Financial (NASDAQ:OCFC) last posted its quarterly earnings results on Thursday, January 22nd. The savings and loans company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. OceanFirst Financial had a return on equity of 5.14% and a net margin of 10.33%.The business had revenue of $104.69 million during the quarter, compared to the consensus estimate of $103.20 million. As a group, analysts expect that OceanFirst Financial will post 1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OCFC. DA Davidson cut shares of OceanFirst Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Zacks Research upgraded OceanFirst Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Wall Street Zen cut OceanFirst Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James Financial lowered OceanFirst Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, Keefe, Bruyette & Woods raised OceanFirst Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $22.00 in a research note on Friday, October 10th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.50.

OceanFirst Financial Company Profile

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.