Provident Financial Services, Inc (PFS) to Issue Quarterly Dividend of $0.24 on November 28th

Provident Financial Services, Inc (NYSE:PFS) announced a quarterly dividend on Thursday, October 30th. Investors of record on Friday, November 14th will be paid a dividend of 0.24 per share by the savings and loans company on Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 14th.

Provident Financial Services has decreased its dividend payment by an average of 0.0%per year over the last three years. Provident Financial Services has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial Services to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 42.5%.

Provident Financial Services Trading Up 1.4%

NYSE PFS opened at $18.88 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $2.47 billion, a P/E ratio of 9.63 and a beta of 0.95. Provident Financial Services has a 12 month low of $14.34 and a 12 month high of $22.24. The company has a 50-day moving average of $19.21 and a 200-day moving average of $18.33.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Thursday, February 17th. The savings and loans company reported $0.68 earnings per share for the quarter. Provident Financial Services had a net margin of 18.76% and a return on equity of 9.72%. The company had revenue of $114.54 million for the quarter. As a group, equities analysts predict that Provident Financial Services will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

PFS has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Provident Financial Services in a report on Wednesday, October 8th. DA Davidson lowered shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Zacks Research cut shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Hovde Group raised their price target on Provident Financial Services from $22.50 to $23.50 and gave the stock an “outperform” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.70.

About Provident Financial Services

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.