OceanFirst Financial Corp. (NASDAQ:OCFC) announced a dividend on Friday, July 30th, investing.com reports. Shareholders of record on Monday, August 9th will be paid a dividend of 0.17 per share by the savings and loans company on Friday, August 20th. This represents a yield of 3.43%. The ex-dividend date is Friday, August 6th.
OceanFirst Financial has increased its dividend by 13.3% over the last three years and has increased its dividend annually for the last 1 consecutive years.
OCFC stock traded down $0.32 during midday trading on Friday, reaching $19.50. 294,516 shares of the company's stock traded hands, compared to its average volume of 280,804. The firm has a 50-day moving average price of $20.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.94. OceanFirst Financial has a 52 week low of $13.14 and a 52 week high of $25.76. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.38 and a beta of 0.97.
OceanFirst Financial (NASDAQ:OCFC) last issued its earnings results on Thursday, July 29th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.06. OceanFirst Financial had a net margin of 17.65% and a return on equity of 4.93%. On average, sell-side analysts forecast that OceanFirst Financial will post 1.72 EPS for the current fiscal year.
In other OceanFirst Financial news, COO Joseph Lebel III purchased 1,000 shares of the business's stock in a transaction on Friday, May 7th. The stock was acquired at an average cost of $27.82 per share, for a total transaction of $27,820.00. Following the completion of the transaction, the chief operating officer now directly owns 1,000 shares in the company, valued at approximately $27,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company's stock.
A number of equities research analysts have issued reports on OCFC shares. Zacks Investment Research cut shares of OceanFirst Financial from a "buy" rating to a "hold" rating in a report on Tuesday, May 4th. Keefe, Bruyette & Woods began coverage on shares of OceanFirst Financial in a research report on Friday. They issued a "buy" rating and a $26.00 target price for the company. Finally, Stephens reiterated an "equal weight" rating and issued a $24.00 target price on shares of OceanFirst Financial in a research report on Wednesday, May 12th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. OceanFirst Financial has a consensus rating of "Buy" and an average price target of $24.00.
About OceanFirst Financial
OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services. The company accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing demand deposits, and time deposits to retail, government, and business customers.
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